FTC Again Delays Enforcement of Red Flags Rule
Client Alert | 1 min read | 07.30.09
The Federal Trade Commission has announced it will again extend the date for commencement of enforcement of the Red Flags Rule to prevent identity theft, moving the date back three months until November 1, 2009.
The Commission said that al though many covered entities have developed and implemented appropriate, risk-based programs since the Commission promulgated the final rule, some covered entities, particularly small businesses and entities with a low risk of identity theft, remain uncertain about their compliance obligations. To help these small and low risk entities with compliance, the Commission staff will shortly make available additional resources and guidance at the FTC's Red Flags Rule website.
In the meantime, groups representing physicians, lawyers and others treated as "creditors" under the Red Flags Rule are continuing to seek legislation or court relief against the rule.
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In recent years, there has been a wave of new legislation impacting contracts and contractual terms. The Belgian legislator is gradually adopting the different Books of the Belgian Civil Code, and the Belgian Code of Economic Law has been updated several times. These changes affect the way contract terms need to be drafted, not only between companies but also with consumers.
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