Iowa Banking Law Blog
Cybersecurity Executive Order Signed By President
Feb. 14, 2013 – Janet E. Phipps Burkhead, Iowa Banking Law Blog, Iowa Intellectual Property Blog
President Obama signed the long awaited Cybersecurity Executive Order on February 12, 2013 – “Improving Critical Infrastructure Cybersecurity.” This Order was signed after Congress failed to pass cybersecurity legislation last year. The Order is intended to improve the sharing of cyber threats between government and industry, as well as establish a baseline for best practices in cybersecurity. The Order calls for a draft of the best practices baseline to be developed in 240 days and the final version to be published within a year.
While the Executive Order is not geared toward general commercial businesses, private industry will be affected. Within 150 days of the signing of the Executive Order, the Homeland Security Secretary is to identify critical infrastructure, to include private industry infrastructure, where a cybersecurity disruption could reasonably result in “catastrophic regional or national effects on public health or safety, economic security or national security.” Financial institutions are mentioned several times in the Executive Order as part of the critical infrastructure to guard against cyber-attacks.
It remains to be seen how this unfolds as to the baseline and best practices standards that are developed, as well as the voluntary adoption of these practices by those identified with “critical infrastructure.”
If you have questions about cybersecurity, protecting intellectual property, or other intellectual property matters, please contact Janet Phipps Burkhead at 515-246-4531 or firstname.lastname@example.org.