On February 23, 2012, the Department of Commerce released its long-awaited consumer privacy white paper "Consumer Data Privacy in a Networked World" (the "Final Report"), which follows up on a draft staff report issued well more than a year ago.

The Final Report calls for a comprehensive privacy framework, instead of the current sector-specific approach to data protection that leaves some personal data (outside of the communications, health care, education, financial services and children's-online sectors) largely unregulated. The Final Report calls for federal legislation to create such a "consumer privacy bill of rights" that would supplement and fill in the gaps of existing federal privacy policy.

In this teleseminar, Reed Smith privacy attorneys Paul Bond, Chris Cwalina, Amy Mushahwar, Nick Tyler and Christine Nielsen (former Illinois Assistant Attorney General) addressed some of the highlights from the report, including international harmonization, the role of U.S. state attorneys general, and DOC support of national data breach standard legislation, and provided guidance on how companies should begin evaluating their respective privacy practices, as well as other elements of the Final Report.