Legal Profession It is a well-settled issue that Attorneys engaged in financial activities of their clients fall under the mandated provisions of the Gramm-Leach Bliley Act. If your practice menu includes real estate closing, financial planning, estate planning or you represent a client in any financial area, you fall under the guidelines.
The American Bar Association filed an action in the Federal District Court, asking the Court to exempt Attorneys from Title V of the GLB Act. The action is pending and will not be resolved for years to come. Both sides have expressed that will appeal any lower court decision.
Compliance with the Safe Guarding Provisions of GLB are simple, as is the disposal by shredding of files and records that contain Non-Public Information of a financial nature of your clients’.
There is no additional cost to you in order to comply with the provision of GLB. Accurate’s destruction process, prior to the enactment of GLB, was based on Department of Defense guidelines for the destruction of secret and sensitive documents.
Attorneys have another issue to deal with on a Federal level and that is the enactment of the Heath Insurance Portability and Accountability Act, commonly known as HIPAA.
The Act protects the privacy of protected health information (PHI). If your files and records contain any medical records of your client’s you must comply with the HIPAA provisions for safeguarding and disposal by shredding of these records. |