SIFMA today released the following statement from Kenneth E. Bentsen, Jr., executive vice president, public policy and advocacy, in response to President Obama’s Executive Order seeking to strengthen the nation’s response to cyber security threats.
“SIFMA applauds the President’s engagement on the important issue of cyber security. The increasing risk of cyber attacks is a key priority for financial firms and we are encouraged by the Administration’s effort to prioritize this critical issue.
“SIFMA believes that a strong public-private partnership and leveraging existing expertise within sector-specific agencies are vital to effectively defending against cyber attacks. The industry has devoted considerable time and resources to develop cyber protection programs as well as information sharing agreements and government partnerships to address this growing problem. We welcome the Administration’s effort to increase the amount of information sharing between the public and private sectors and remain committed to working with policymakers to keep our markets and market participants safe.
“The executive order is a step in the right direction. Moving forward, SIFMA will continue to work with our member firms and with policy makers to identify and promote solutions that enhance cyber security protection and weaken the capability of those seeking to disrupt the financial markets.”