Major CyberSecurity sharing rider has been included in the Omnibus Spending Bill expected to be approved by Congress on Friday.
The bill would affirm Department of Homeland Security as the main/primary civilian agency for receiving and disseminating cyberthreat information as well as give organizations liability protections for sharing such information.
Passage of the rider to the spending bill would give private sector organizations a lead government platform for sharing CyberSecurity attacks by governments against corporations/ business community.
The rider also gives the President of the United States the option of designating another government agency if the DHS screws up.
This is the first major piece of legislation to come out of Congress dealing with CyberAttacks against the private sector and may also boost the US SEC efforts to have companies warn investors if data breaches occur and offer best practices companies can follow to protect investors in the capital markets.
Stay tuned as we learn more about this important legislation to protect the private sector by sharing technical information with one coordinated federal government agency.
CyberSecurity ranks as one of the most important issues facing the CFO/ finance team/ management accountant – IMA/ CMA.