Rockefeller Releases Staff Report on “Fortune 500” Companies’ Cybersecurity Views

January 30, 2013

Sen. Jay Rockefeller (D-WV), chairman of the Senate Committee on Commerce, Science and Transportation, today released a staff memorandum summarizing feedback received from “Fortune 500” companies in response to an inquiry by Senator Rockefeller on cybersecurity practices and policy. This is one piece of an ongoing effort by some on the Hill and in the White House to build support for cybersecurity legislation or an Executive Order.

Rockefeller, lead sponsor of the “Cybersecurity Act of 2012,” had sent letters in September 2012 to the chief executive officers of the 500 largest U.S. companies, seeking information on their cybersecurity practices, the federal government’s role in developing those practices and the companies’ concerns, if any, with the legislation. About 300 companies responded to the letters, according to the staff memorandum.

“Overall, the companies’ responses showed that the private sector is supportive of Congress’s interest in passing cybersecurity legislation,” Rockefeller’s staff said in the memorandum. “Many companies provided support for provisions in the legislation and, when they raised concerns, they were offered in a thoughtful, constructive manner.” There remains an ongoing policy debate over the appropriate scope and content of any legislative and regulatory reaction to cyber threats.

Cybersecurity will be a hot topic this year, with an anticipated Executive Order on the horizon in addition to several Congressional hearings and legislation. Given these factors, there will be multiple potential threats and opportunities for business. Our cybersecurity team, which consists of former senior level Executive Branch appointees and Congressional staffers, is exceptionally placed to provide you with the latest critical information and intelligence related to changes in cybersecurity law and policy and can work with you to minimize threats and take advantage of opportunities that exist.

To read the memorandum from Rockefeller’s staff, please click here.