New Cybersecurity Bills on the Horizon
- With policymakers and officials becoming more cyber-aware, several cybersecurity bills have been introduced.
- These bills look at enforcing various measures to improve the cyber landscape.
Let’s take a swift look at the recent cybersecurity bills.
Cybersecurity Disclosure Act of 2019
Introduced by Senator Jack Reed on 28 February 2019, this bill is based on the Cybersecurity Disclosure Act of 2017.
- It is said to focus on the existing cybersecurity situation and takes into account the involvement of a ‘person’.
- It also draws from the Cybersecurity Disclosure Act of 2017 about disclosure of details of cybersecurity expertise of individuals at the board level in the annual report to the Securities and Exchange Commission (SEC).
- Another shared requirement is that the Federal Trade Commission(FTC) must consult with the National Institute of Standards and Technology(NIST) standards to define cybersecurity roles and expertise.
“This legislation advances that goal [bolstering our nation's cybersecurity] by encouraging publicly traded companies to be more transparent about whether and how their Boards of Directors and senior management are prioritizing cybersecurity,” said Jack Reed.
Mind Your Own Business Act of 2019
This bill was introduced last week by Senator Ron Wyden and focuses on user privacy.
- It grants customers the right to see how companies use and share their data.
- It also introduces prison time for executives who misuse customer data and lie to the government about it.
- The bill is said not to preempt any state laws.
Silicon Valley lawmaker Rep. Ro Khanna recently proposed a new bill that mandates training in basic cybersecurity practices for federal employees.
“The internet of things is very exciting. It’s going to help connect so many of ... the gadgets we use into one system, but that also makes them vulnerable to [threats],” said Khanna.