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Feds sign cybersecurity commercialization MOU with financial association

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The federal government and a private sector financial association signed a Dec. 6 agreement with the goal of speeding the commercialization of cybersecurity research, say White House officials.

The Homeland Security Department, the National Institute of Standards and Technology and the Financial Services Sector Coordinating Council--a coalition of financial services firms and trade associations that includes Visa USA--are parties to the agreement, according to a memorandum of understanding.

Signatories pledge to undertake projects that lead to the delivery of innovative cybersecurity projects, as well as to share ideas and concepts for better cybersecurity. However, the agreement "creates no obligations on any of the Parties and provides no funds to any of the Parties," states the MOU text.

In a Dec. 6 blog post about the MOU, Aneesh Chopra, federal chief technology officer, and Howard Schmidt, the White House cybersecurity coordinator say the agreement will "accelerate the deployment of network test beds for specific use cases that strengthen the resiliency, security, integrity and usability of financial services."

For more:
- download the MOU (.pdf)
- read Chopra's and Schmidt's blog post on the MOU

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