Survey: half of companies won’t be ready for CCPA
Explore early CCPA readiness through a PwC executive survey examining business preparedness, compliance gaps, enforcement risks, and the operational challenges organizations faced before California's privacy law took effect.
This article was written by Jay Cline for LinkedIn and is being re-published here with his consent. Minor edits were included for clarity with the author’s approval.
When the California Consumer Privacy Act (CCPA) goes into effect in 15 months, forty-eight percent of companies in the latest PwC Pulse survey of C-suite executives expect to be still working on their compliance with the law. This could be a boon for plaintiffs attorneys who will be able to initiative class-action lawsuits for breaches of data under CCPA and a vector for liability for companies as CCPA violations are subject civil penalties of up to $7,500 enforced by the California Attorney General.
Other storm clouds loom on the horizon. Thirty-two percent of surveyed companies reported that they’ll need the rest of 2020 to shore up their compliance. Those who haven’t operationalized the law’s individual rights to access, port, and delete their data or to opt out of the selling of covered data to third parties will face additional exposure starting in July 2020. The California attorney general will then be empowered to initiate enforcement actions — including fines and injunctions — for failures of these controls even if no guidance has been issued on the topic.
“forty-eight percent of companies […] expect to be still working on their compliance with the law”
Which sector is furthest ahead in CCPA preparations? Thirty-seven percent of surveyed companies in the healthcare sector say they’ve completed a CCPA gap assessment, compared with 22 percent in financial services, 21 percent in industrial products and consumer/retail, and 19 percent in the telecom/technology/media sector.
How does your company stack up?
See the full report here
