The Graham-Leach-Bliley Act is the primary law affecting the operations of publicly traded companies and accounting firms. False.
The Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act of 1999, is an act of the 106th US Congress.
The Gramm-Leach-Bliley Act requires financial institutions (companies that provide financial products or services to consumers, such as credit, financial or investment advice, or insurance) to explain their information-sharing practices to their customers and to are obliged to protect
The Gramm-Leach-Bliley Act is intended to protect the financial privacy of consumers. That provision limits when a “financial institution” can disclose a consumer’s “non-public personal information” to unrelated third parties. The Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act, passed Congress in late 1999 to strengthen the financial services industry by removing barriers separating commercial banks from investment banking, merchant banking, and insurance. relaxed regulations.
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