SIFMA today released the following statement from president and CEO Kenneth E. Bentsen, Jr., after Senator Richard Burr offered the Cybersecurity Information Sharing Act (CISA) as an amendment to the National Defense Authorization Act (NDAA):
"SIFMA commends Senator Burr for introducing CISA as an amendment to the NDAA and for his focus on the critically important issue of cybersecurity. We strongly encourage the Senate to adopt the Burr amendment. As we were reminded of yet again just recently, the cyber threats posed by criminals, hackavists, nation-states and terrorists are among the most serious risks facing financial services firms and the U.S. economy. Bipartisan information sharing legislation, such as that put forward by Senators Burr and Feinstein, will empower businesses and government agencies with the best information to protect consumers and stay ahead of the rapidly evolving and increasingly malicious nature of cyberattacks.
"The industry - as a whole and in partnership with the government - has dedicated tremendous resources to mitigate cyber threats to protect the integrity of the capital markets and the millions of people who use financial services every day. As we've seen from recent events, there is too much to lose by inaction. Cybersecurity legislation must move forward under any legislative process possible."