FTC Extends Enforcement Deadline for Red Flags Rule
The FTC has extended the deadline for enforcement of the Red Flags Rule until June 1, 2010, at the request of Congress. This delay comes on the heels of a U.S. District Court ruling on October 30, 2009, which held that the FTC may not apply the Red Flags Rule to law firms. The Commission previously delayed enforcement of the Rule until November 1, 2009. The FTC’s Press Release may be found here. Other guidance materials may be found on the MRSC and FTC websites and on previous blog postings.