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Washington, DC – The Federal Trade Commission delayed until November 1 a rule that would require certain companies to have programs to detect and prevent identify theft for their customers.

The FTC’s “red flags” rule was initially set to take effect August 1. But the agency said that some companies, particularly small businesses, are not certain what rules apply to them or what their obligations are. The agency said it will issue additional guidance on how to comply with the rule shortly.

The FTC operates a Red Flags website that helps companies determine if they are covered and how to comply with the rule. Activities that could bring firms under the rule include accrual of incentive fees or arranging funds for clients to buy securities on margin.

To comply, firms must develop and implement written identity theft prevention programs and ensure that service providers have reasonable policies in place to protect customers.

Read the full story at investmentnews.com.

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