The Commodity Futures Trading Commission announced that it will integrate the National Institute of Standards and Technology’s Privacy Framework into its enterprise risk portfolio to help manage privacy risks.
CFTC said Tuesday the Privacy Framework is a voluntary tool meant to help organizations improve individuals’ privacy through enterprise risk management.
“I am proud the CFTC is taking the lead by becoming the first federal agency to adopt the NIST Privacy Framework,” said CFTC Chairman Heath Tarbert. “Adopting this framework will put us on the cutting edge of data privacy protection.”
NIST issued the final version of the framework in January four months after it released the preliminary draft. The framework is composed of core, profiles and implementation tiers and seeks to secure individuals’ privacy through three efforts, including facilitating communications with regulators and clients about privacy practices.