The Senate Committee on Commerce, Science and Transportation will meet to discuss growing concerns over identity theft and consider federal legislation to address identity theft after several states passed laws aimed at protecting personal data. California's successful Information Practice Act (SB 1386), which mandates that companies publicly disclose privacy breaches and notify each affected customer individually, has become a template for other state laws. Pennsylvania and New York are the two most recent states to adopt similar measures. Meanwhile, some industry groups advocate self-enforcement, as opposed to government regulation.
Iron Mountain launches compliance service
Iron Mountain Inc. announced this week that it is launching a new compliant records management program, aimed at helping companies develop policies for managing data in compliance with government regulations. The company also announced that it will be breaking off its digital services unit into a separate business, which will house both digital archive services and e-vaulting.
Tandberg unveils 1U LTO autoloader
Tandberg Data Corp. (formerly InoStor) announced that it is introducing a new LTO tape autoloader. The 1U rackmount-configured LTO StorageLoader offers up to 3.2 terabytes compressed storage capacity and a transfer rate of up to 173 GB per hour by incorporating Tandberg's recently introduced half-height LTO-2 tape drive.
SunGard offers managed hosting program
SunGard Availability Services, an operating group of SunGard, announced its Information Availability for Small and Midsize Business program. The program enables customers to manage their applications while they are hosted at one of SunGard's data centers. The program also provides users ten end-user recovery seats at SunGard's facilities.
Brocade investigation formalized by SEC
Brocade Communications Systems Inc. said the Securities and Exchange Commission (SEC) has elevated an informal inquiry over the company's stock-option accounting into a formal investigation. In an informal inquiry, the SEC asks for voluntary information. In a formal investigation, SEC staff can issue subpoenas that require information to be disclosed.
Brocade announced that on June 10, 2005, it received a notice from the Nasdaq Stock Market stating that the company is not in compliance with Nasdaq's Marketplace Rule 4310(c)(14) because it has not filed its report on Form 10-Q for the fiscal quarter, which ended April 30, 2005. The company plans to dispute Nasdaq's claim that its securities are subject to delisting because of the oversight.