Sec. 5402. Review of Cyber-related Matters at the Department of the Treasury
383 words·~2 min read·
/bill/117/hr/7900/pcs/section-5402·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No later than 270 days after the date of enactment of this Act, the Secretary of the Treasury shall complete a comprehensive review of the Department of the Treasury’s efforts dedicated to enhancing cybersecurity capability, readiness, and resilience of the financial services sector, specifically as it relates to— Treasury’s role as the sector risk management agency for the financial services sector, as defined by section 9002 of the William M.
(Mac)Thornberry National Defense Authorization Act for Fiscal Year 2021; and integration of operational resilience and cybersecurity for the financial services sector across the Department of the Treasury. The review required under subsection
(a)shall include the following elements and considerations: A comprehensive review of the components and offices within the Departmental Offices of the Department of the Treasury involved in efforts specified in subsection (a). A review of activities by the Department of the Treasury involved in efforts specified in subsection (a). An assessment of the how each activity identified in this subsection connects to the National Security Strategy and other related documents of the Executive Branch. An assessment of the Department of the Treasury’s ability to discharge fully its duties specified in subsection
(a)and identify any areas where it may need additional resources, legislation or authority. An evaluation of the partnerships with other executive branch departments and agencies to support efforts specified in subsection (a). An evaluation of support to and from the Financial and Banking Information Infrastructure Committee, and its member agencies to enhance efforts specified in subsection (a). A five-year plan for the Department of the Treasury that defines an objectives and goals related to the efforts specified in subsection (a). No later than 30 days after the completion of the review specified under subsection (a), the Secretary of the Treasury shall transmit the review to Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate. No later than February 1st of each year after the submission of the review until 2028, the Secretary shall provide an update on progress made in the preceding year in relation to the plan directed in subsection (b)(7) to the Committee on Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.