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President Trump signed an Executive Order mandating that all federal
agencies implement certain cybersecurity measures to protect U.S.
network infrastructure from foreign and domestic attacks.
The Order requires agencies to mitigate cybersecurity risks by
adopting the National Institute of Standards and Technology
Cybersecurity Framework. It also requires the federal government to
support the cybersecurity efforts of private businesses that
control critical infrastructure. In addition, it lays out cyber
risk management documentation requirements, calls for evaluation
and assessment of risk management reports, and prompts the American
Technology Council to analyze federal IT systems and how they might
be modernized.
SIFMA president and CEO, Kenneth Bentsen, Jr., praised the order for its potential impact on
the financial services industry:
"We commend the Administration for its focus on the
critically important issue of cybersecurity. Improving both the
government's and the private sector's ability to defend
against cyber attacks is a top priority for the financial services
industry. SIFMA member firms dedicate tremendous resources to
protect the integrity of the capital markets and the millions of
Americans who use financial services every day."
Commentary / Joseph Facciponti
The President's cybersecurity Executive Order is a welcome
development as it shows the administration is committed to
supporting the private sector in protecting critical
infrastructure. In addition, it holds the heads of federal agencies
accountable for adopting robust cybersecurity practices to protect
our government's sensitive information and computer
systems.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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