Heed privacy and gain consumer confidence, says privacy commissioner

(September 29, 16:00 ET) – “Ignore privacy at your own peril,” Ontario Privacy Commissioner Dr. Ann Cavoukian told members of the investment industry at their annual conference in Toronto yesterday.

“The time has come to reign in this indiscriminant enthusiasm for the Internet – the backbone of e-commerce.” Cavoukian attributes consumer reticence to provide personal information on the Web to the rampant misappropriation of such data.

The remedy is to have an accessible privacy policy. And, she says, companies must avoid inappropriate use, including the sale, of personal information.

Chris Erickson, a member of the Investment Funds of Institute of Canada committee on e-commerce, released of a series of guidelines intended to reduce barriers to e-commerce caused by the lack of consumer confidence.

The guidelines are based on the Canadian Securities Administrator’s draft policies on electronic document delivery and e-trading.

Erickson conceded the use of the Internet for the purposes of the investment industry is hinged upon four contingencies:

Recipients receive notice that a document has been sent via electronic medium.

They must have the technology necessary to access information without significant delay. If the necessary technology is unavailable, information will be sent through regular mail. All recipients, regardless of technological access, must receive information at the same time.

Proof of delivery will be determined, and assumed by consent of delivery.

Documents must retain the integrity of the original to guard against corruption.