COUNSELOR’S CORNER By Johnnie E. Brown, Esq., Pullin, Fowler, Flanagan, Brown and Poe, PLLC Implementation is going to require a team effort of ownership, management, technology specialists, and legal counsel. New Safeguards Rule Happy New Year, everyone. I don’t think it is too late to wish this to you. As we start this new 2022 year, I know we all hope and wish that COVID-19 will greatly diminish this year and inventory will improve. Unfortunately, in the midst of this uncertainty, the Federal Trade Commission is implementing new Safeguard Rules to protect the privacy rights of consumers for their non-public personal information (NPI). Importantly, please understand that this new rule will become effective on Dec. 9, 2022, but now is the time to start preparing. The National Automobile Dealer Association (NADA) has estimated that compliance will average $293,000 for startup costs and approximately another $275,000 to annually maintain. Further compounding this financial burden is that non-compliance can wvcar.com 20 WVADA
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