15 U.S. Code § 6801 - Protection of nonpublic personal information.
(a) Privacy obligation policy
It is the policy of the Congress that each financial institution has an affirmative and continuing obligation to respect the privacy of its customers and to protect the security and confidentiality of those customers’ nonpublic personal information.
(1) to insure the security and confidentiality of customer records and information;
(2) to protect against any anticipated threats or hazards to the security or integrity of such records; and
(3) to protect against unauthorized access to or use of such records or information which could result in substantial harm or inconvenience to any customer.
15 U.S. Code § 6804 – Rulemaking
Regulatory authority
(1) Rulemaking
(A) In general
Except as provided in subparagraph (C), the Bureau of Consumer Financial Protection and the Securities and Exchange Commission shall have authority to prescribe such regulations as may be necessary to carry out the purposes of this subchapter with respect to financial institutions and other persons subject to their respective jurisdiction under section 6805 of this title (and notwithstanding subtitle B of the Consumer Financial Protection Act of 2010 [12 U.S.C. 5511 et seq.]), except that the Bureau of Consumer Financial Protection shall not have authority to prescribe regulations with respect to the standards under section 6801 of this title.
15 U.S. Code § 6805 – Enforcement.
This subchapter and the regulations prescribed thereunder shall be enforced by the Bureau of Consumer Financial Protection, the Federal functional regulators, the State insurance authorities, and the Federal Trade Commission with respect to financial institutions and other persons subject to their jurisdiction under applicable law as follows:
31 CFR 1010.520 - Information sharing between government agencies and financial institutions.
(C) Each financial institution shall maintain adequate procedures to protect the security and confidentiality of requests from FinCEN for information under this section. The requirements of this paragraph (b)(3)(iv)(C) shall be deemed satisfied to the extent that a financial institution applies to such information procedures that the institution has established to satisfy the requirements of section 501 of the Gramm-Leach-Bliley Act (15 U.S.C. 6801), and applicable regulations issued thereunder, with regard to the protection of its customers' nonpublic personal information.
The term “Federal functional regulator” means 15 U.S. Code § 6809 – Definitions
(4) Nonpublic personal information
(A) The term “nonpublic personal information” means personally identifiable financial information—
(i) Provided by a consumer to a financial institution;
(ii) Resulting from any transaction with the consumer or any service performed for the consumer; or
(iii) Otherwise obtained by the financial institution.
(B) Such term does not include publicly available information, as such term is defined by the regulations prescribed under section 6804 of this title.
(C) Notwithstanding subparagraph (B), such term—
(i) Shall include any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived using any nonpublic personal information other than publicly available information; but
(ii) Shall not include any list, description, or other grouping of consumers (and publicly available information pertaining to them) that is derived without using any nonpublic personal information.
The Gramm-Leach-Bliley Act was enacted on November 12, 1999. In addition to reforming the financial services industry, the Act addressed concerns relating to consumer financial privacy. The Gramm-Leach-Bliley Act required the Federal Trade Commission (FTC) and other government agencies that regulate financial institutions to implement regulations to carry out the Act's financial privacy provisions (GLB Act). The regulations required all covered businesses to be in full compliance by July 1, 2001.
The FTC is responsible for enforcing its Privacy of Consumer Financial Information Rule (Privacy Rule). Anyone who uses this Guide should also review the Privacy Rule, found at 16 C.F.R. Part 313 (May 24, 2000).
Gramm-Leach-Bliley Act
Federal Functional Regulator Law & Legal Definition,
The primary purpose of the W-8 form is to indicate to mutual fund companies and brokers that a foreign investor isn't subject to standard taxation practices where ... to indicate to mutual fund companies and brokers that a foreign investor isn't subject to standard taxation practices where investment income is not taxed.
In a nutshell, a W 8 form is used by foreign businesses and non-resident aliens earning income from U.S. sources. Its purpose is mainly to let ... You probably don't have to worry about the W 8 form -- unless you're a non-resident alien. American citizens generally do not need to use W 8 forms, nor do resident aliens -- instead, they would use the corresponding W-9 form that certifies their tax identification number.
"Of Course - With (the) respect to financial institutions and other persons subject to their respective jurisdiction"……………………
I don't recall the site and so cannot give credit where credit is due:
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