Allen & Overy Compares Cyber Security Strategies on Both Sides of Atlantic

In February the European Commission launched a cyber security strategy for the EU aimed at increasing capabilities and preparedness towards security incidents such as hacking or technical failures. Hard on the heels of the EU’s efforts to promote a culture of security risk management, US president Obama’s administration introduced an Executive Order on Improving Critical Infrastructure Cybersecurity in the United States.

With measures on cyber security launched on both sides of the Atlantic within a week of each other, we should be in no doubt as to the seriousness of the cyber security threat and its potential impact on the global economy. The US and EU initiatives both focus on cyber security risks to critical infrastructure and have at their heart a drive to encourage greater cooperation and information sharing between relevant agencies and also with those who suffer attacks.

A key aspect of the proposed new European regime is mandatory reporting of attacks. Although the US order creates no new legal obligations for corporates, it is likely to have a significant impact on prevailing cyber security compliance and practice.

International law firm Allen & Overy provides a summary of these two new pieces of rule-making and also looks at whether the new proposals to manage cyber security risks will complement or clash with other related frameworks such as the proposed European Data Protection Regulation.

Source: Allen & Overy

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