CYBER SECURITY FOR THE BANKING AND FINANCE SECTOR

VALERIE ABEND AND BRIAN PERETTI

Department of Treasury, Washington, D.C.

C. WARREN AXELROD

Bank of America, Charlotte, North Carolina

ANDREW BACH

NYSE Euronext, New York, New York

KEVIN BARRY, DON DONAHUE, AND KEN WRIGHT

Depository Trust and Clearing Corporation, New York, New York

JOHN CARLSON

BITS, Washington, D.C.

FRANK CASTELLUCCIO, DAN DEWAAL, DAVID ENGALDO, AND GEORGE HENDER

Options Clearing Corporation, Chicago, Ilinois

DAVID LAFALCE

The Clearing House, New York, New York

MARK MERKOW

American Express Company, New York, New York

WILLIAM NELSON

FS-ISAC, Dulles, Virginia

JOHN PANCHERY

Securities Industry Financial Market Association, New York, New York

DAN SCHUTZER

Financial Services Technology Consortium, New York, New York

DAVID SOLO

Corporate Technology Office, Citigroup Inc., New York, New York

JENNIFER L. BAYUK

Consultant, Towaco, New Jersey

1 HISTORY OF COOPERATION

The US government and financial institutions have a long history of cooperation. The government recognized financial institutions as an integral part of the nation's critical infrastructure. As such, financial institutions are highly regulated and constantly supervised by regulatory agencies to ensure that they are able to withstand the various and increasing threats they face.

Examples of cooperation between the public and private sector in the late 1990s include preparations for the Century Date Change or “Y2K”, Preliminary Research and Development Roadmap ...

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