On November 21, 2022, the Nationwide Affiliation of REALTORS®, together with the opposite 18 member associations of the Principal Road Privateness Coalition (“MSPC”), despatched a letter to the Federal Commerce Fee (“FTC”) concerning its superior discover of proposed rulemaking on the Commerce Regulation Rule on Business Surveillance and Knowledge Safety.
In August, the FTC launched the ANPR to hunt public touch upon whether or not new guidelines are wanted to handle potential harms stemming from industrial knowledge safety practices. MSPC has lengthy advocated for a uniform nationwide knowledge privateness and safety customary that creates clear protections for Individuals, whereas permitting members’ companies to serve their prospects within the methods they’ve come to depend upon. In its letter, MSPC offered a set of guiding rules for the Fee to contemplate earlier than setting any regulation of information privateness and safety.
Whereas knowledge regulation tends to deal with coverage coping with how commerce takes place on the Web or the tech sector, MSPC’s chief concern is how these laws would influence Principal Road companies. REALTORS® and retailers utilizing knowledge to speak with their present buyer base is essentially completely different from what knowledge brokers and third events unknown to customers do with data. The letter underscores that many Principal Road companies should keep and retain knowledge so as to successfully serve their prospects and shoppers, versus conducting “industrial surveillance.” Subsequently, it is crucial that any knowledge safety requirements be based mostly on reasonableness, taking into consideration the variety of various companies coated by the regulation.