Importance of Standardization in Privacy Compliance and Enforcement: Insights from the 2024 IAB Public Policy and Legal Summit

The 2024 IAB Public Policy and Legal Summit in Washington, DC, was a crucial event where industry leaders discussed the pressing need for standardization in privacy compliance. With advertising becoming a regulated industry, states are implementing privacy laws, and federal regulators are also focusing on privacy issues.

Regulators emphasized the importance of proactive compliance, with enforcement actions already underway in states like California, Colorado, Connecticut, Virginia, and Utah. The message is clear – privacy compliance is not optional, and companies must ensure they are following the regulations.

The Federal Trade Commission (FTC) is actively enforcing privacy policies, making it essential for all stakeholders in the ad industry to have a robust privacy compliance plan in place. The scrutiny is not just on what companies do with data, but also on the actions of their partners who handle the data.

Compliance monitoring and automation are crucial for advertisers to stay on top of their privacy obligations. The IAB Diligence Platform offers a standardized approach to compliance, helping companies ask the right questions and assess their privacy practices.

The cost of non-compliance is high, as seen in recent enforcement actions against companies like Sephora and DoorDash. The FTC is holding all parties in the data ecosystem accountable, emphasizing the need for comprehensive compliance efforts.

In conclusion, the need for standardization in privacy compliance is more critical than ever. Companies must take proactive steps to ensure they are meeting regulatory requirements and protecting consumer data. The IAB Diligence Platform provides a valuable tool for companies to streamline their compliance efforts and demonstrate their commitment to privacy protection.