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President Obama’s counterterrorism coordinator recently announced the formation of a new federal agency, the Cyber Threat Intelligence Integration Center (CTIIC), to monitor threats to cybersecurity and to compile data and analysis of both threats and potential responses to breaches in cybersecurity. Although a number of federal agencies, including the SEC, NSA and Department of Homeland Security, have already begun mobilizing efforts to address cybersecurity, the CTIIC will serve as the central clearinghouse for this information.
Will the formation and activities of the CTIIC act as a catalyst for the long discussed federal legislation designed to encourage companies to more accurately, cooperatively and timely share information on cyber attacks and their responses? Is this just another layer of regulatory control that will require companies to put in place additional reporting mechanisms? More operational details should be forthcoming in the immediate future.