Final answer:
Under SEC Regulation S-P, the firm is required to include specific information in the opt-out notice, such as individuals' right to opt-out, the means to exercise this right, and the duration of the opt-out choice.
Step-by-step explanation:
Under SEC Regulation S-P (Consumer Privacy), the firm is required to include the following in the opt-out notice:
- The firm must inform individuals of their right to opt-out of the firm's information-sharing practices.
- The firm must provide a reasonable means for individuals to exercise their opt-out rights, such as a toll-free phone number or an online form.
- The firm must explain how individuals can opt-out and the applicable time frame for exercising this right.
- The firm must state that the opt-out choice will apply until the individual revokes it.
These requirements aim to enhance consumer privacy and ensure individuals have control over the use of their personal information.