CISOs Have Greater Responsibilities Under the New Cyber Incident Reporting Act!

06 April 2022 Internet, IT & e-Discovery Blog Blog
Author(s): Peter Vogel reported that “When President Biden signed the omnibus spending bill Tuesday, he also put the bipartisan Cyber Incident Reporting Act into effect, which requires critical infrastructure companies in the 16 industry sectors identified by the federal government to report to the Cybersecurity and Infrastructure Security Agency (CISA) within 72 hours if they are experiencing a cyberattack and within 24 hours of making a ransomware payment.”  The March 16, 2022 article entitled “What the Newly Signed US Cyber-Incident Law Means for Security” included these comments from Tom Kellermann (head of cybersecurity strategy at VMware) that “It's a game changer”:

It's a fundamentally important strategic decision made by the federal government to finally eliminate the plausible deniability that had existed for far too long. ...

Corporations have [for some time] underinvested in cybersecurity because they could always maintain plausible deniability.

Kellermann argues that the new law will force companies to hire a CISO, give that person a budget, and provide detection response oversight.

Companies need to show that they are taking this seriously,…

They will either have to hire a CISO, or if they already have one, promote the CISO and make sure they have veto authority over the CIO.

The general counsel will also have to become more familiar with privacy and cyber laws.

They will need to work hand-in-hand with the CISO in their information-sharing efforts in public-private partnerships with the ISACs and working with CISA.

Given the shortage of CISOs this may be a challenge!

This blog is made available by Foley & Lardner LLP (“Foley” or “the Firm”) for informational purposes only. It is not meant to convey the Firm’s legal position on behalf of any client, nor is it intended to convey specific legal advice. Any opinions expressed in this article do not necessarily reflect the views of Foley & Lardner LLP, its partners, or its clients. Accordingly, do not act upon this information without seeking counsel from a licensed attorney. This blog is not intended to create, and receipt of it does not constitute, an attorney-client relationship. Communicating with Foley through this website by email, blog post, or otherwise, does not create an attorney-client relationship for any legal matter. Therefore, any communication or material you transmit to Foley through this blog, whether by email, blog post or any other manner, will not be treated as confidential or proprietary. The information on this blog is published “AS IS” and is not guaranteed to be complete, accurate, and or up-to-date. Foley makes no representations or warranties of any kind, express or implied, as to the operation or content of the site. Foley expressly disclaims all other guarantees, warranties, conditions and representations of any kind, either express or implied, whether arising under any statute, law, commercial use or otherwise, including implied warranties of merchantability, fitness for a particular purpose, title and non-infringement. In no event shall Foley or any of its partners, officers, employees, agents or affiliates be liable, directly or indirectly, under any theory of law (contract, tort, negligence or otherwise), to you or anyone else, for any claims, losses or damages, direct, indirect special, incidental, punitive or consequential, resulting from or occasioned by the creation, use of or reliance on this site (including information and other content) or any third party websites or the information, resources or material accessed through any such websites. In some jurisdictions, the contents of this blog may be considered Attorney Advertising. If applicable, please note that prior results do not guarantee a similar outcome. Photographs are for dramatization purposes only and may include models. Likenesses do not necessarily imply current client, partnership or employee status.