On Oct. 10, the California Attorney General’s Office issued the California Consumer Privacy Act Proposed Regulations. Stakeholders have until Dec. 6 to submit comments, and there will be four public hearings prior to that date. On the same day, the Attorney General’s Office also published the Initial Statement of Reasons describing the basis for each provision in the proposal. The ISOR includes a Standardized Regulatory Impact Assessment because the economic impact of the CCPA is estimated to exceed $50 million annually once fully implemented. The California Department of Finance estimates the cost of CCPA compliance will range from $50,000 to over $2 million, depending on the size of the business and its data processing operations.
Click here to read the full Law360 article by GT Shareholders Gretchen Ramos and Kate Black, “The Surprises in Proposed Calif. Consumer Privacy Regs.”