ARTICLE
31 January 2020

CFTC Becomes First Federal Agency To Adopt NIST Privacy Framework

CW
Cadwalader, Wickersham & Taft LLP

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Cadwalader, established in 1792, serves a diverse client base, including many of the world's leading financial institutions, funds and corporations. With offices in the United States and Europe, Cadwalader offers legal representation in antitrust, banking, corporate finance, corporate governance, executive compensation, financial restructuring, intellectual property, litigation, mergers and acquisitions, private equity, private wealth, real estate, regulation, securitization, structured finance, tax and white collar defense.
The CFTC became the first federal agency to adopt the National Institute of Standards and Technology ("NIST") Privacy Framework.
United States Finance and Banking

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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