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Privacy
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Effective July 1, 2001, a new Federal Privacy Act went into effect. It is referred to as the Gramm, Leach, Bliley Act. The law requires businesses such as insurance companies, accounting and tax preparation firms, banks, brokerage firms, and others, to protect the privacy of their customer’s personal information.
The nature of the work provided by the various divisions of Schan Business Enterprises Inc. (“Schan”) requires that we obtain personal information from you. Transactions involving tax returns, tax planning, accounting and financial statements, insurance, real estate, estate planning, retirement planning, and investment counseling all are reliant on personal information provided by you.
We, at Schan, place a high priority on the privacy of the information you provide us. We are committed to protecting your privacy not only as required by law, but also to uphold the ethical standards established within the professional communities in which we conduct ourselves. Employees are trained in, and reminded of, the critical need for confidentiality and privacy in working with your personal information. Information is only provided to those employees who require such access to perform your requested tasks.
Information sought by persons or organizations not part of Schan will only be provided with permission from you, our client. Bankers, brokers, and attorneys, are examples of such other parties, but there are others as well. However, in the event Schan would be required to comply with a governmental summons or subpoena, such legal demands must be followed.
The quality work you have come to expect from Schan has always included our concern for the sensitivity of the personal information you provide to us. This law only enforces what we’ve believed all along.
As always, feel free to call us with any questions you may have regarding this issue.
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