Legal Column > Security breaches: new regulation takes effect on November 1

Security breaches: new regulation takes effect on November 1

posted on 10:30 AM, October 26, 2018

On November 1, a new federal regulation covering all companies and organizations (including brokerage firms) will take effect, including a requirement to report security breaches that pose a real risk of significant harm.

The new reporting requirements for security breaches stem from the Digital Privacy Act (2015), which modified the Personal Information Protection and Electronic Documents Act.

However, after checking into the matter with our legal team, there are various specific cases depending on whether you do business exclusively in Quebec or with partners in other provinces. Given the potential impact of this new regulation on your business, we have taken steps to validate the procedure with the relevant federal and provincial authorities.

We will notify you of the results of this process as soon as we can. If you have any questions in the meantime, please feel free to email us (communications@rccaq.com).