Section 9 - Revised Privacy Notices (a) General rule. Except as otherwise authorized in this regulation, a licensee shall not, directly or through an affiliate, disclose any nonpublic personal financial information about a consumer to a nonaffiliated third party other than as described in the initial notice that the licensee provided to that consumer under Section 5, unless: - (i) The licensee has provided to the consumer a clear and conspicuous revised notice that accurately describes its policies and practices;
- (ii) The licensee has provided to the consumer a new opt out notice;
- (iii) The licensee has given the consumer a reasonable opportunity, before the licensee discloses the information to the nonaffiliated third party, to opt out of the disclosure; and
- (iv) The consumer does not opt out.
(b) Examples. - (i) Except as otherwise permitted by Sections 14, 15 and 16, a licensee shall provide a revised notice before it:
- (A) Discloses a new category of nonpublic personal financial information to any nonaffiliated third party;
- (B) Discloses nonpublic personal financial information to a new category of nonaffiliated third party; or
- (C) Discloses nonpublic personal financial information about a former customer to a nonaffiliated third party, if that former customer has not had the opportunity to exercise an opt out right regarding that disclosure.
- (ii) A revised notice is not required if the licensee discloses nonpublic personal financial information to a new nonaffiliated third party that the licensee adequately described in its prior notice.
(c) Delivery. When a licensee is required to deliver a revised privacy notice by this section, the licensee shall deliver it according to Section 10.