FTC, citing cyber workforce shortages, extends compliance deadline for new security requirements

The Federal Trade Commission has extended until June the deadline for “non-banking financial institutions” to comply with new cybersecurity requirements, citing workforce and pandemic-related supply chain challenges that could complicate compliance efforts, particularly for smaller entities.

“The Commission is extending the deadline based on reports, including a letter from the Small Business Administration’s Office of Advocacy, that there is a shortage of qualified personnel to implement information security programs and that supply chain issues may lead to delays in obtaining...