Can I ensure that my company is compliant with expanding privacy protections in Nevada? What are the requirements?

Requirements for Ensuring Compliance with Expanding Privacy Protections in Nevada

To ensure that your company is compliant with expanding privacy protections in Nevada, there are several requirements that you need to be aware of.

Reporting Requirements

Under NVRS 604C.589 and NVRS 671.096, the Commissioner of Financial Institutions is required to report regularly any violations of applicable laws committed by applicants or licensees, enforcement actions, and other relevant information to the Nationwide Multistate Licensing System and Registry (NMLS). This reporting is subject to any limitations or restrictions contained in federal or state law governing the privacy or confidentiality of records.

Additional Materials Required to be Submitted

NVRS 628B.480 requires each applicant for the issuance of a license and each owner, officer, director, and responsible person of the applicant, each person in control of the applicant, and any other person the Commissioner may require to submit a complete set of fingerprints for submission to the Federal Bureau of Investigation and any other governmental agency or entity authorized to receive such information for a state, national, and international background check on the criminal history of the person. Additionally, information concerning the personal history, financial history, and experience of the person must be submitted in a form prescribed by the NMLS, including an authorization of the person for the NMLS and the Commissioner to obtain an independent credit report and credit score from a consumer reporting agency for the purpose of evaluating the financial responsibility of the person at the time of the submission of the application.

Participation in the NMLS

NVRS 604C.583 authorizes the Commissioner to participate in the NMLS and take any action with respect to participation in the NMLS that the Commissioner deems necessary. An applicant or licensee shall, in addition to any other fees associated with the license, pay all applicable charges to use the NMLS, including any processing charges established by the administrator of the NMLS.

Confidentiality of Information

Under NVRS 604C.589, NVRS 671.096, and NVRS 628B.480, the requirements under any federal or state law regarding the privacy and confidentiality of any information or material provided to the NMLS and any privilege arising under federal or state law with respect to such information or material continue to apply to such information or material after it has been disclosed to the NMLS. Such information and material may be shared with federal and state regulatory officials with oversight authority over licensees without the loss of privilege or the loss of confidentiality protections provided by federal or state law.

Additional Materials to be Submitted to Registry

NVRS 604C.592 requires each applicant and each owner, officer, director and responsible person of the applicant, each person in control of the applicant and any other person the Commissioner may require in accordance with guidelines of the Registry or other multistate agreements to submit additional materials to the Registry. These materials include a complete set of fingerprints for submission to the Federal Bureau of Investigation and any other governmental agency or entity authorized to receive such information for a state, national and international background check on the criminal history of the person, information concerning the personal history, financial history and experience of the person in a form prescribed by the Registry, information related to any administrative, civil or criminal findings made by any governmental jurisdiction concerning the person, and any other information concerning the person that the Registry or Commissioner may require.

Conclusion

To ensure compliance with expanding privacy protections in Nevada, companies must comply with reporting requirements, submit additional materials to the Registry, participate in the NMLS, and maintain confidentiality of information.

Jurisdiction

Nevada

• Privacy