AUTOMOTIVE ADVISORS PROFESSIONALISM • QUALITY • RESPONSIVENESS Our team has over 30 years of extensive knowledge and experience with the automotive industry. Our firm provides individual attention to each client, helping to maximize their bottom line. • Financial Reporting • Tax Planning • LIFO Inventory Application • Performance Benchmarking Please contact one of our partners. Daniel J. Ferrari, CPA Amy M. Dillon, CPA John J. Entz, CPA 2755 Philmont Avenue, Ste 210 Huntingdon Valley, PA 19006 215-914-1400 www.danferrari.com • Consent order with an online alcohol marketplace (and its CEO, personally) over allegations that its security failures led to a data breach exposing personal information of approximately 2.5 million consumers. Specifically, it did not require employees to use MFA, did not limit employees’ access to personal data, failed to monitor security threats, and stored information insecurely. – January 2023 • Consent order with an online customized merchandise platform that failed to implement reasonable security measures and failed to adequately respond to several security breaches. Specifically, it stored social security numbers and passwords in readable text, did not require employees to use MFA, retained data longer than was reasonably necessary, and covered up major data breaches. – June 2022 With the Safeguards Rule and the looming Motor Vehicle Trade Regulation Rule, automotive retail is squarely in the sights of the FTC commissioners. It is imperative that dealers continue in their efforts to expeditiously comply with all the new requirements of the Rule to achieve full compliance by the new deadline. If you’re feeling overwhelmed, send a message to info@complyauto.com or visit our website at www.complyauto.com to learn more about our “one-stopshop” solution for the Safeguards Rule and our Compliance Guarantee. This article should be used as a compliance aid only and, though its accuracy has been made a priority, it is not a substitute for professional legal advice. Each dealer should rely on their own expertise when using it. Hao Nguyen, Esq., is the Chief Legal Officer and Director of Strategic Partnerships with ComplyAuto. He can be reached at 661.347.8309 or via email at hao@complyauto.com. 31 njcar.org
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