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Can I prioritize privacy compliance to gain a competitive advantage, reduce the possibility of regulatory issues, and help secure valuable partnerships in Mississippi? What are the requirements?

Prioritizing Privacy Compliance in Mississippi

To gain a competitive advantage, reduce the possibility of regulatory issues, and help secure valuable partnerships in Mississippi, businesses can prioritize privacy compliance.

Requirements for Privacy Compliance in Mississippi

Businesses in Mississippi must ensure that they protect proprietary information and trade secrets by complying with the rules and regulations set forth by the state. Commercial and financial information of a proprietary nature required to be submitted to a public body by a firm, business, partnership, association, corporation, individual, or other like entity shall be exempt from the provisions of the Mississippi Public Records Act of 1983 [2.1].

To protect proprietary information submitted to the Board, a producing party must place the term “CONFIDENTIAL” on the cover of any document containing proprietary information and clearly and specifically mark all proprietary information contained in the document. The Board shall treat all information submitted in accordance with this rule as proprietary information. If after review, however, the Board determines the submitted information fails to otherwise qualify under these rules as proprietary information, that information shall not be utilized by the Board, but instead, shall be returned immediately to the producing party [3.1].

Proprietary information shall not be open to the public for inspection. Proprietary information submitted to the Board shall be disclosed only to the Board members, members on the Board’s staff and the Attorney General’s Office, consultants and experts employed or engaged by the Board, and members of committees appointed by the Board. Prior to disclosure of any proprietary information to any individuals listed, such individuals shall execute and place on file with the Board, a written acknowledgment that they have read these rules concerning proprietary information submitted to the Board, agree to be bound by these rules, and understand that the unauthorized disclosure of proprietary information as submitted to the Board constitutes a violation of the rules. Under no circumstances shall proprietary information be disclosed to or discussed with anyone associated with the marketing of products, good or services which are in competition with the products, goods, and services of a producing party [3.2].

Small Business Regulatory Flexibility Act

The Mississippi Small Business Regulatory Flexibility Act requires agencies to prepare an economic impact statement before submitting proposed permanent rules for adoption, amendment, revision, or revocation pursuant to the Mississippi Administrative Procedures Law [1.3]. The act defines a small business as a for-profit business entity employing fewer than one hundred (100) full-time employees or having gross annual sales or revenues of less than Ten Million Dollars ($10,000,000.00) [1.5].

The committee may file a written petition with the agency that has promulgated the regulations opposing all or part of a regulation that has an impact on small business. The agency shall submit a written response of its determination to the committee within sixty (60) days after receipt of the petition. If the agency determines that the petition merits the amendment, revision, or revocation of a regulation, the agency may initiate proceedings in accordance with the applicable requirements of the Mississippi Administrative Procedures Law. If the agency determines that the petition is without merit, the committee may submit within thirty (30) days additional data in support of its petition [1.6].

Conclusion

Prioritizing privacy compliance can help businesses gain a competitive advantage, reduce the possibility of regulatory issues, and help secure valuable partnerships in Mississippi. To comply with privacy regulations in Mississippi, businesses must ensure that they protect proprietary information and trade secrets by complying with the rules and regulations set forth by the state.

Source(s):
Jurisdiction

Mississippi