Secretary Lew Discusses Cybersecurity

In his remarks at the 2014 Delivering Alpha Conference, Secretary of the Treasury Jacob Lew called for legislation to enhance defenses against cybersecurity threats. 

According to Secretary Lew, the consequences of cyber attacks are more serious than ever, and financial institutions should be proactive to prevent damage. He stated that, despite their hesitancy to reveal information about security breaches, firms should consider disclosing cyber incidents and collaborate with government agencies and other firms in order to strengthen defenses against cyber attacks. He called for legislation that would encourage information sharing between the government and the private sector. 

See: Secretary Lew’s Speech; SIFMA Statement on Secretary Lew’s Speech