| Sec. 2. Data security and security breach study; report. The Department of |
Professional and Financial Regulation, in conjunction with the |
Attorney General, other financial regulatory agencies, business |
representatives, other interested parties that store electronic |
consumer data and consumer representatives, shall conduct a study |
regarding data security and security breach requirements. The |
study must include, but is not limited to, current electronic |
data security plans used by businesses; the value, practicality |
and costs of imposing additional requirements, including |
notification requirements, on businesses; California law |
governing security breach and notification requirements; and the |
right to private cause of action for a person injured by a |
violation of security breach notification law. The Department of |
Professional and Financial Regulation shall report its findings, |
including any proposed legislation, to the Joint Standing |
Committee on Insurance and Financial Services, by February 1, |
2006. Following receipt and review of the report required under |
this section and the report required under section 3, the Joint |
Standing Committee on Insurance and Financial Services may report |
out a bill related to the reports to the Second Regular Session |
of the 122nd Legislature. |