Standards committee developing data protection, breach notification standard

Accredited Standards Committee X9 Inc., a nonprofit organization in Annapolis that develops standards for the financial services industry, launched a new initiative to make a standard for personal and financial data security.

Called the X9.141 Financial and Personal Data Protection and Breach Notification Standard, the initiative will be designed to require that firms protect data and try to detect and respond to breaches in a consistent way. It will also provide uniform notification requirements for when a breach occurs.

For information about participating in the development of the standard, contact the committee at https://x9.org/contact-x9/.