The CFTC became the first federal agency to adopt the National Institute of Standards and Technology ("NIST") Privacy Framework.
The CFTC describes the framework as "a voluntary tool designed to improve privacy through enterprise risk management." According to the NIST, the Privacy Framework was designed to aid organizations in identifying and managing privacy risks while creating innovative products (see also previous coverage). The CFTC stated that it will utilize the framework by (i) incorporating it into its enterprise risk portfolio and (ii) improving privacy risk practices.
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