SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO, on the "Cyber Information Sharing Tax Credit Act," which was introduced today by Senator Kirsten Gillibrand, D-N.Y.:
"Cybersecurity is increasingly a major threat to national security and the U.S. financial system. We commend Senator Gillibrand for her focus on this issue and her leadership in promoting robust cybersecurity practices. This legislation would amend the tax code to incentivize private sector participation in an Information Sharing and Analysis Organization (ISAC). These information sharing forums, such as the Financial Services ISAC, are critical to the collective cyber defense effort as they enable the industry and government to share threat information and coordinate response protocols.
"Additionally, we continue to call on Congress to prioritize national security and take action on the bipartisan information sharing legislation pending in the Senate, the Cybersecurity Information Sharing Act of 2014. This legislation would significantly strengthen cyber defenses as it would encourage the industry to share vital threat intelligence with the government without fear of liability and codify important privacy protections for individuals. The industry remains committed to doing everything it takes to prepare and defend against a cyber attack. We urge Congress to do the same."
