Sony has updated the official PlayStation Network Terms of Services in North America. This has resulted in users who were logged into their account to get signed out and then go through the updated terms and services again. After you are done with the terms and services, you will be prompted to go through the new privacy settings that can be changed.
If you haven’t been able to sign into your PlayStation Network account and keep getting an error when performing a Network Test for it, you will be required to accept the new Terms of Services before you can sign into your account. To trigger this, you can open the PlayStation Store and get to witness the new Terms of Services and Privacy settings as seen below.
The revised terms of service and privacy settings mainly seem to do with followers. There is also a new option for off-line console availability. This is standard practice whenever the terms and services for PlayStation Network are updated although it is hard to notice the changes unless someone goes through the whole list and compares the text word by word.
Sony has also released a brand new firmware update recently that seems to a major update with the jump to system software 5.00.