The FTC has announced a six-month delay to the original enforcement date of the Red Flag Rules, November 1, 2008. The new enforcement date is May 1, 2009. This is welcome news for the health care industry, as many health care providers were unaware of the Red Flag Rules, their requirements and their potential applicability. Health care providers should take advantage of the enforcement delay to perform the necessary assessment, develop and implement the required Program, and educate their boards and staff about the same.
The October 21 Katten Muchin Rosenman LLP Client Advisory “Mandatory Compliance Date for ‘Red Flag’ Rules Fast Approaching” summarizes the Red Flag Rules and the steps health care providers should take to ensure compliance with the rules. Click here to view this Advisory.