Tag: Homeland Security

SEC Proposes 4-day Cybersecurity Reporting Requirements for Public Companies; Roundtable’s HSTF Plans Security Threat Briefings

Posted on by Trey Jackson

Gary Gensler of the SEC

The Securities and Exchange Commission (SEC) on March 9 issued a proposed rule that would require publicly traded companies to disclose a cybersecurity incident within four days of determining a breach is “material,” or important to the average investor. (BGov, March 11 and SEC News Release | Proposed Rule | Fact Sheet)

Proposed SEC Requirements

  • SEC Chair Gary Gensler, above, said, “Today, cybersecurity is an emerging risk with which public issuers increasingly must contend. I am pleased to support this proposal because, if adopted, it would strengthen investors’ ability to evaluate public companies’ cybersecurity practices and incident reporting.” (Bloomberg, March 9)
  • An SEC spokesperson noted that the crisis in Ukraine gave these proposals “special relevance.” (CNBC, March 9 and see story below on The Roundtable’s upcoming March 25 discussion on the Ukraine conflict)
  • The proposed SEC amendments would include requirements around reporting material cybersecurity incidents – and providing periodic updates for previously reported cybersecurity incidents. (Wall Street Journal, March 9)
  • The proposal also would require periodic reporting related to:
    • a registrant’s policies and procedures to identify and manage cybersecurity risks;
    • the registrant’s board of directors’ oversight of cybersecurity risk; and
    • management’s role and expertise in assessing and managing cybersecurity risk and implementing cybersecurity policies and procedures.
  • The Real Estate Roundtable is planning to provide comments on the SEC proposal in advance of the May 9, 2022 submission deadline and looks forward to Roundtable members’ input. The proposed four-day reporting timeframe for companies to provide cyber disclosures may not provide enough time for companies to discover the full extent of an incident. (BGov, March 11)

Cybersecurity Threats

Cybersecurity computer operator at console with world map

  • An Audit Analytics report  released last year showed the number of cybersecurity intrusions reported by public companies increased from 28 breaches in 2011 to 117 in 2020.
  • The average cost of a corporate data breach was $4.24 million in 2021, according to an annual IBM Security report.
  • Separately, the $1.5 trillion omnibus bill spending bill enacted on March 11 included the Cyber Incident Reporting for Critical Infrastructure Act. The legislation establishes a narrower 72-hour window for critical infrastructure owners and operators to disclose a cyberattack to the Cybersecurity and Infrastructure Security Agency (CISA). Certain businesses are also required to report any ransom payments to the federal government within 24 hours, among other changes. (Brownstein Hyatt Farber Schreck, March 14)

REISAC logo

  • The Real Estate Roundtable’s Homeland Security Task Force (HSTF) is coordinating briefings on the following security threats through the Real Estate Information Sharing and Analysis Center (RE-ISAC):
    • April: DHS Sector Outreach and Programs (Active Shooter, and other soft target resources for the Commercial Facilities Sector)
    • May: DHS Fusion Center overview
    • June: US Secret Service cybercrime
    • August: The Protective Security Advisor Program
    • September: FBI cybersecurity/cybercrimeNovember: The InfraGard program 

Roundtable members interested in participating can contact Andy Jabbour of the RE-ISAC. 

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Roundtable Members Engage Policymakers on Economic, Energy, ESG and Other National Issues

Posted on by Trey Jackson

Capitol from upper Pennsylvania Avenue

The Real Estate Roundtable’s Virtual 2022 State of the Industry (SOI) Meeting this week included discussions with national policymakers and industry leaders on the future of the Build Back Better (BBB) Act, the Fed and monetary policy, energy policy, regulatory oversight of ESG reporting, along with equity, diversity and inclusion issues in CRE. The Roundtable’s policy advisory committees also met, drilling down on timely issues with policy and industry experts in the areas of tax, sustainability, capital and credit, and homeland security.

Speakers & Policy Issues

Virtual SOI 2022 DeBoer and Fish

Roundtable Chair John Fish (Chairman and CEO, Suffolk), right, and Roundtable President and CEO Jeffrey DeBoer, left, launched the meeting and led discussions with three U.S. Senators and other prominent policymakers, including:

  • Sen. John Thune (R-SD)
    Senate Republican Whip
    Committees: Senate Commerce, Finance, Agriculture
    … joined Roundtable Board Member Ross Perot. Jr. (Chairman, Hillwood) to discuss upcoming Senate legislation and the political outlook.
  • Sen. Amy Klobuchar (D-MN)
    Committees: Joint Economic, Senate Commerce, Judiciary, and Rules
    …  expressed her support for the recently-enacted bipartisan infrastructure bill and additional pandemic aid for the hard-hit tourism industry and hospitality sectors.
  • Sen. Catherine Cortez Mastro (D-NV)
    Committees: Senate Finance, Banking, and Energy
    … noted her support for expanding the low-income housing tax credit to build affordable homes for working families, along with business incentives to invest in energy efficiency projects.
  • John Kerry
    President Biden’s Special Envoy for Climate and former Secretary of State
    … discussed the significant role of the real estate industry in efforts to combat the impact of climate change and emphasized the need for nations to adopt new green energy technologies.
  • Larry Summers
    Former Treasury Secretary under President Clinton and Former White House National Economic Council Director under President Obama
    … discussed a wide range of policy topics, including his views on the Fed’s reaction to market volatility, inflation, and the tight labor market. (Watch Summers video)

Equity, Diversity & Inclusion

Roundtable SOI 2022 Virtual E,D&I discussion

  • The SOI meeting also included a discussion about exploring a potential industry initiative that would aim to accelerate opportunities for minority and women business enterprises (MWBEs) in the commercial real estate industry.
  • The goals of the initiative were discussed by The Roundtable’s Equity, Diversity and Inclusion (E,D&I) Committee Chairman, and Roundtable Board Member, Jeff Blau (CEO, Related Companies); Ken McIntyre, CEO of The Real Estate Executive Council; and Thomas Baltimore, Jr., Chairman, President and CEO of Park Hotels & Resorts.

Roundtable Policy Advisory Committees

RER's Duane Desiderio and SPAC Chair Tony Malkin

(Above: Sustainability Policy Advisory Committee (SPAC) Chair Tony Malkin (Chairman, President and CEO, Empire Realty Trust), right, and Roundtable SPAC Liaison, Senior Vice President and Counsel Duane Desiderio, left.)

The Roundtable’s policy advisory committee meetings on Jan. 25-26 analyzed national issues impacting CRE, including:

  • Research and Real Estate Capital Policy Advisory Committees (RECPAC)

    Rep. French Hill (R-AR) provided his insights on the congressional legislative agenda from his perspective as a member of the House Financial Services Committee and Ranking Member of its Subcommittee on Housing, Community Development and Insurance. Research Committee co-chairs Spencer Levy (CBRE’s Global Chief Client Officer) and Paula Campbell Roberts (KKR Managing Director) provided their perspectives on real estate capital markets. RECPAC co-chair Kathleen Farrell, Head of Commercial Real Estate for Truist, moderated a joint committee meeting capital market discussion, along with co-chairs Gregg Gerken, Head of Commercial Real Estate with TD Bank, and Mike Lowe, Co-CEO with Lowe.

  • Tax Policy Advisory Committee (TPAC)

    Potential tax revenue policies that may be considered by Congress were a focus of a discussion moderated by Russ Sullivan (Brownstein Hyatt Farber Schreck) with Bethany Bell, staff director for the House Ways and Means Subcommittee on Select Revenue Measures. Additionally, Derek Theurer, chief tax counsel for Ways and Means’ Republicans, discussed tax legislative priorities prior to the upcoming mid-term elections.

  • Homeland Security Task Force (HSTF)

    HSTF members were briefed on the escalation of organized “smash and grab” looting incidents affecting the retail sector by Dan Kennedy, Senior Vice President of US Security Operations for Unibail-Rodamco-Westfield, Chris Woiwode, Vice President and Chief Security Officer for Macerich and Terry Monahan, former New York City Senior Advisor for Recovery Safety Planning and NYPD Department Chief. Additionally, HSTF co-chairs Amanda Mason (Executive Director of Global Intelligence for the Related Companies) and Keith Wallace (Vice President for Global Safety & Security with Marriott International) led HSTF in a discussion on current threats to CRE and mitigation strategies. (HSTF on Jan. 20 held a virtual exercise simulating hostile events and adverse weather impacting CRE).

  • Sustainability Policy Advisory Committee (SPAC)

    Environmental Protection Agency (EPA) staff demonstrated a new, powerful Building Emissions Calculator to estimate historical, current and future annual greenhouse gas emissions resulting from a building’s energy use. SPAC also discussed the SEC’s expected rule on Environmental, Social, and Corporate Governance (ESG) reporting requirements. (Reuters, Jan. 19).  Additional speakers from the U.S. Energy Information Administration provided an update on the Commercial Building Energy Consumption Survey (CBECS), which tracks federal data on U.S. CRE energy use.

Next on The Roundtable’s FY2022 meeting calendar is the Spring Meeting on April 26. This meeting is restricted to Roundtable-level members only.

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Real Estate Preparedness Exercise on January 20 to Address Adverse Weather and Hostile Events

Posted on by Trey Jackson

The Real Estate Roundtable’s Homeland Security Task Force and the Real Estate Information Sharing and Analysis Center (RE-ISAC) invite member organizations to participate in a Virtual Preparedness Exercise on January 20.

  • One exercise will address winter weather preparedness to examine critical dependencies related to water, power and communications/IT. Another exercise will focus on hostile events in local areas that do not directly target a member’s facility.  One recent example of such an event involved an armed suspect incident in Boston that shut down activity in a four-block radius during a seven-hour standoff.
  • Government officials and other industry ISACs will also participate in the Jan. 20 event, scheduled for 2:00-3:30 pm ET.  Please RSVP no later than January 18 to Liz Hoopes and indicate if you prefer to participate in a weather preparedness or hostile events group.
  • Additionally, HSTF has recently worked with government officials to produce a one-page reference on “flash mob” retail theft to assist businesses in recognizing potential preparatory actions for future criminal activity.

For more information, please contact Roundtable Senior Vice President Chip Rodgers.

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Real Estate Preparedness Exercise on Adverse Weather and Hostile Events Scheduled for Jan. 20, 2022

Posted on by Trey Jackson

REISAC logo x475

The Real Estate Roundtable’s Homeland Security Task Force and the Real Estate Information Sharing and Analysis Center (RE-ISAC) invite member organizations to participate in a Virtual Preparedness Exercise on Jan. 20, 2022.

  • One exercise will address winter weather preparedness to examine critical dependencies related to water, power and communications/IT. Another exercise will focus on hostile events in local areas that do not directly target a member’s facility.  One recent example of such an event involved an armed suspect incident in Boston that shut down activity in a four-block radius during a seven-hour standoff.
  • Government officials and other industry ISACs will also participate in the Jan. 20 event, scheduled for 2:00-3:30 pm ET.  Please RSVP no later than January 14 to Liz Hoopes and indicate if you prefer to participate in a weather preparedness or hostile events group.
  • Additionally, HSTF has recently worked with government officials to produce a one-page reference on “flash mob” retail theft to assist businesses in recognizing potential preparatory actions for future criminal activity.

For more information, please contact Roundtable Senior Vice President Chip Rodgers.

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Roundtable and Business Coalition Weigh In on Legislation Requiring Ransomware Attack Reports

Posted on by Trey Jackson

CyberSecurity graphic

Bipartisan legislation that would require private sector companies to report ransomware attacks to federal authorities was advanced this week by the Senate Homeland Security and Governmental Affairs Committee. A broad, 37-member coalition that includes The Real Estate Roundtable on Oct. 4 provided detailed suggestions to Senate and House congressional committees about provisions that should be included in any bill that would impose a compulsory cyber incident notification program on the business community. (Cybersecurity coalition letter and Committee mark-up)

Why It Matters

  • The Cyber Incident Reporting Act (S. 2875) – sponsored by Committee Chairman Gary Peters (D-MI) and Ranking Member Rob Portman (R-OH) – would require certain owners and operators of critical infrastructure operators to report hacks within 72 hours and ransom payments within 24 hours to the Cybersecurity and Infrastructure Security Agency (CISA).  Organizations failing to do so would potentially banned from doing business with the federal government. (The Hill, Set. 28 and PoliticoPro, Oct. 5)
  • The committee also approved the Federal Information Security Modernization Act of 2021 (S. 2902), which would require agencies and contractors to report on cyberattacks.
  • The congressional bills aim to update the Federal Information Security Modernization Act, signed into law in 2014. Sen. Portman noted two reports on issued by the Homeland Security Committee since 2019 that found massive cybersecurity shortcomings at several federal agencies.
  • The Senate Homeland Security Committee’s leadership may seek to merge their legislation may with a bill (S. 2010) from the Senate Intelligence Committee. Sen. Peters said he may also seek to include S. 2875 in House-passed defense policy legislation (H.R. 4350), which also includes language requiring cyber incidents. (BGov and PoliticoPro, Oct. 5)

Private Sector Concerns

Senate Homeland Security and Governmental Affairs Committee

  • The business coalition’s Oct. 4 letter to the Senate Committees on Intelligence, Homeland Security and Government Affairs and the House Committee on Home  recommended several provisions that should be central to a mandatory reporting regime, including:
    • Establish a prompt reporting timeline of not less than 72 hours. Legislation should reflect an appropriate, flexible standard for notifying government about significant cyber incidents.
    • Attach reporting to confirmed cyber incidents. Businesses need clarity in reporting requirements, which should be targeted to well-defined and confirmed cyber incidents.

    • Confine reports to significant and relevant incidents .A list should be limited in reach—particularly excluding small businesses using existing federal rules—and risk based.

    • The business industry comments recommended that federal cybersecurity reporting legislation should also include robust liability protections; consistent federal reporting requirements; restrictive government use of reported data; and guarantee substantial input from industry to protect the rulemaking process. 

Identifying Critical Infrastructure

REISAC logo x475

  • In the House, a separate bill that would identify systemically important infrastructure was introduced Oct. 5 by Homeland Security Committee Ranking Member John Katko (R-NY), Rep. Abigail Spanberger (D-VA) and Rep. Andrew Garbarino (R-NY). (Katko one-pager on the bill)
  • The bill would authorize CISA to prioritize infrastructure operators considered so crucial to the U.S. economy, public health and national security that a disruption to their operations due to a cyberattack would be considered debilitating. (Katko news release, Oct. 5) 

The Roundtable’s Homeland Security Task Force continues to work with key law enforcement and intelligence agencies and the Real Estate Information Sharing and Analysis Center (RE-ISAC) on protective measures that businesses can take to create infrastructure resistant to physical damage and cyber breaches.  

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The Roundtable Commemorates 20th Anniversary of 9-11 and TRIA’s Positive Impact

Posted on by Trey Jackson

9-11Tribute NYC skyline

The Real Estate Roundtable this week commemorated the 20th anniversary of the 9-11 attacks by recognizing the enduring, positive impact of the Terrorism Risk Insurance Act (TRIA) and holding a joint meeting of the organization’s Homeland Security Task Force (HSTF) and Risk Management Working Group (RMWG). 

Reflection and Action 

  • Roundtable President and CEO Jeffrey DeBoer stated, “The nation and the industry reflects during this solemn anniversary week on the profound human losses, and lessons learned, from the tragic events of September 11, 2001.”
  • DeBoer added, “We also recognize the enduring, positive impact of the Terrorism Risk Insurance Act (TRIA) to help protect the economy in the event of future attacks. The Roundtable remains proud of its efforts in the wake of 9-11 and secure TRIA renewals that extend the program until the end of 2027.  Our nation remains vigilant against terrorism threats as our industry remains steadfast in working with government agencies to combat physical and cyber-terrorist attacks.” 

9-11 Legacy: TRIA 

CIAT logo

  • A Sept. 7 article in Commercial Observer reported how The Real Estate Roundtable organized a coalition of business insurance policyholders – the Coalition to Insure Against Terrorism – to win passage of TRIA.  The article states, “TRIA has provided the commercial real estate industry with a crucial backstop against losses suffered from external threats in the nearly two decades since its enactment.”

  • The article quotes Roundtable Board Member Anthony Malkin, (chairman, president and CEO, Empire State Realty Trust) on the far-reaching, positive impact of TRIA on CRE, colleges, sports stadiums and hospitals.
  • Roundtable Senior Vice President Chip Rodgers is also quoted about TRIA’s vital importance for commercial real estate, since lenders require ‘all risk’ insurance coverage — including terrorism coverage — to cover the risk of loss to the collateral. (Commercial Observer, Sept 7) 

Ongoing Industry Efforts 

REISAC logo x475

  • The Roundtable’s HSTF and the Real Estate Information Sharing Analysis Center (RE-ISAC) were launched soon after 9-11 to coordinate CRE’s response to potential future attacks and share threat information.
  • The HSTF and RMWG virtual joint meeting this week featured a discussion with Peter Bergen, whose extensive background as an expert on terrorism includes years as a journalist, documentary producer, vice president for global studies & fellows at New America, and CNN national security analyst. He is currently co-director at the Center on the Future of War at Arizona State University. Mr. Bergen discussed the current threat picture facing the United States, including the ramifications of the Taliban’s return to power in Afghanistan.
  • Roundtable participants were also joined by Shane Lamond (Lieutenant, D.C. Metropolitan Police Department) who led a discussion on civil unrest threats, the proliferation of ransomware attacks and various COVID-related challenges of re-entering buildings. 

The Roundtable is also working with the Business Continuity Coalition to develop an insurance program that protects jobs by ensuring business continuity from future economic losses from pandemics and other health emergencies that necessitate widespread government mandated closures of the economy. (Roundtable Weekly, July 23) 

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White House Urges Companies to Build Cyber Defenses as Ransomware Attacks Increase; Commercial Facilities Cyber Working Group Sharing Information on Threats

Posted on by Trey Jackson

Anne Neuberger White House Deputy National Security Advisor for Cyber and Emerging Technology

The increasing frequency and size of ransomware cyberattacks on U.S. companies prompted the White House on June 2 to issue a stark warning urging businesses to take “immediate steps” to increase their ransomware defense based on the federal government’s best practices. (White House  Deputy National Security Advisor for Cyber and Emerging Technology Anne Neuberger, above)

A National Threat

  • Ransomware is a type of malicious computer network attack where criminals encrypt an organization’s data and demand payment to restore access. In some instances, attackers may also steal an organization’s information and demand additional payment in return for not disclosing the information to the public.
  • The document from the White House’s Neuberger notes, “All organizations must recognize that no company is safe from being targeted by ransomware, regardless of size or location. Much as our homes have locks and alarm systems and our office buildings have guards and security to meet the threat of theft, we urge you to take ransomware crime seriously and ensure your corporate cyber defenses match the threat.” (White House, What We Urge You To Do To Protect Against The Threat of Ransomware and Readout of Neuberger Meeting)
  • In the past month, $15 million in cyber-ransom was paid to hackers in bitcoin by Colonial Pipeline and JBS USA, the world’s largest meat-processing company. The U.S. Justice Department reported on June 7 that it had retrieved $2.3 million paid by Colonial. (Axios, June 9 and CNBC, June 8)
  • In an interview with the Wall Street Journal this week, FBI Director Christopher Wray compared the challenge of countering the threat of ransomware to the 9/11 terrorist attacks and that the agency was currently investigating about 100 different types of ransomware.
  • Wray also testified on June 10 before the House Judiciary Committee that companies should not make ransomware payments to hackers but instead contact the FBI for help to restore stolen data. Wray said, “There are a whole bunch of things we can do to prevent this activity from occurring, whether they pay the ransom or not, if they communicate and coordinate with law enforcement right out of the gate. That’s the most important part,” he added. (AP, June 10)
  • Additional hearings this week on ransomware and other cyber threats to infrastructure where held by the Senate Homeland Security and Governmental Affairs Committee on June 8 and the House Homeland Security Committee on June 9.

CRE and Cybersecurity

REISAC logo x475

  • The RE-ISAC has worked with InfraGard National Capital Region (InfraGardNCR) to establish the Commercial Facilities Cyber Working Group (CCWG), a virtual effort to share cyber threat intelligence. The group shares threat reports, ransomware victim examples, and other information on a regular basis. 

Resources and Reference

cybersecurity control room

For more information, contact Gate 15 Managing Director and RE-ISAC staff Andy Jabbour or The Roundtable’s RE-ISAC Executive Director and HSTF Liaison Chip Rodgers.

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Potential Election-Related Civil Unrest Monitored and Shared by Real Estate Information Sharing and Analysis Center (RE-ISAC)

Posted on by Trey Jackson

REISAC logo x475

The escalating threat of civil unrest related to the election – looting, homegrown violent extremists and organized attacks on properties – continues to be addressed by law enforcement and the commercial real estate industry.  Through the Real Estate Information Sharing and Analysis Center (RE-ISAC), The Real Estate Roundtable works with government officials and private sector partners to detect, protect and respond to a multiplicity of such key threats.

  • The RE-ISAC serves as the primary conduit of terrorism, cyber and natural hazard warning and response information between the government and the commercial facilities sector.
  • Through its information-sharing network, the RE-ISAC engages in operational efforts to coordinate activities supporting the detection, prevention, and mitigation of a full range of physical, data, and cyber threats to the nation’s critical infrastructure.
  • The RE-ISAC is now maintaining a central section online of election-related threats and updates, both physical and cyber, called U.S. & Election 2020. While not a direct threat to the Commercial Facilities Sector, cyberattacks, misinformation, physical threats and intimidation, as well as the complexities of an election during the pandemic are concerns that must be monitored and shared with CRE stakeholders.

Reference:

  • To subscribe to the RE-ISAC Daily Report and alerts, industry participants should contact RE-ISAC Executive Director Chip Rodgers.

The Roundtable’s Homeland Security Task Force

FBI Headquarters building in Washington, DC

  • Additionally, The Roundtable’s Homeland Security Task Force (HSTF) held a remote meeting on Oct. 21 that included presentations on election-related security issues with Michael Burgwald, Assistant Section Chief, Domestic Terrorism Operations Section, Counterterrorism Division, Federal Bureau of Investigation and Branden Fuller, Unit Chief, Strategic Engagement Unit, Counterterrorism Division, Federal Bureau of Investigation.   
  • HSTF is co-chaired by Charlie McGonigal, Brookfield’s Senior Vice President, Global Security & Life Safety, U.S. Office Division, and Dan Kennedy, Unibail-Rodamco-Westfield (URW) Senior Vice President, US Security Operations.
  • McGonigal said, “Our well-established industry relationship with federal, state and local law enforcement partners and homeland security officials facilitates a robust information-sharing exchange that benefits both the commercial facilities sector and government officials. We rely on timely updates from them and they look to us for insight on threats to commercial real estate.”
  • Kennedy added, “Last week’s remote meeting of our Homeland Security Task Force had a high participation rate from Roundtable members across the country eager for the view of security officials on potential security threats surrounding the elections. To raise awareness of how these kind of tensions, or other threats, could manifest in actions affecting CRE requires these ongoing briefings and useful meetings.”
  • The HSTF will hold another WebEx meeting on Friday, November 6, 2020 at 11:30 AM ET. The focus of the meeting will be to discuss any post-election unrest and discuss strategies used to address those situations.  For more information, please contact Roundtable Senior Vice President Chip Rodgers.

A summary of election-related security threats will also be one topic of discussion on January 27, 2021 during HSTF’s meeting that will be held in conjunction with The Roundtable’s all-member State of The Industry Meeting.

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Industry and Federal Agencies Share Threat Information Amid Recent International Tensions and Homeland Security Concerns

Posted on by Trey Jackson

REISAC logo x475

During recent military actions between the United States and Iran, the real estate industry engaged in intensive information-sharing efforts with government agencies on a variety of homeland security concerns.

  • As international tensions increased, informational bulletins on the potential for homeland security threats were shared by federal homeland security officials through the Real Estate Information Sharing and Analysis Center (RE-ISAC) – a public-private information sharing partnership organized and managed by The Real Estate Roundtable.

     

  • The Roundtable’s Homeland Security Task Force (HSTF) – co-chaired by Roundtable members Dan Kennedy (URW) and Charlie McGonigal (Brookfield) – works closely with the REISAC and federal agency partners on protective measures that CRE businesses may consider as they implement infrastructure resistant to physical damage and cyber breaches. HSTF also addresses a variety of CRE homeland security issues, including the recently reauthorized Terrorism Risk Insurance Act (TRIA).

     

  • The REISAC sends a Daily Report to members to raise awareness on domestic concerns and cyber threats affecting the U.S. commercial facilities sector, while sharing guidance from the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA).

     

  • On Jan. 3, CISA conducted a situational update on Iranian-U.S. tensions with industry contacts. The conference call also addressed planning and preparedness efforts related to cyber, physical, and communications readiness – and coordinating information for reporting suspicious activity and/or events related to the events.

     

  • On Jan. 6, CISA released an alert on “Potential for Iranian Cyber Response to U.S. Military Strike in Baghdad.”  The same day, The New York Post reported that a senior adviser to Iran’s president posted a tweet on Sunday with a link to a Forbes article listing all of The Trump Organization’s significant properties, along with a quote from the late Ayatollah Khomeini threatening revenge against any enemies of Islam.

     

  • The Daily Beast reported on Jan. 7 that an anonymous senior member of the U.S. intelligence community said Trump Tower in Midtown Manhattan could be more effective a target than even the White House.
  • The RE-ISAC on Jan. 8 shared the retail-focused BMAP Special Advisory Bulletin which warned that, “individuals inspired to commit acts of terrorism may try to acquire or legally purchase common household items such as explosive precursor chemicals (EPCs), explosive powders, and IED components at retailers in your community to construct IEDs for use against infrastructure targets.”  The bulletin also provided a list of “Suspicious Activity and Purchasing Behavior: Recognize and Report.”

     

  • The RE-ISAC also recently distributed an announcement regarding a collaboration with the FBI and InfraGard National Capital Region to launch the Commercial Facilities Cyber Working Group (CCWG).  Those who work at the intersection of commercial facilities and information security are invited to join the new Working Group by registering at https://cf.epicplatform.com.  Additional ontact information for the REISAC is available here.

 

The next Homeland Security Task Force (HSTF) meeting is scheduled for Jan. 29, in conjunction with The Roundtable’s State of the Industry Meeting on Jan. 28 in Washington, DC.   

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Ten-Year TRIA Reauthorization Bill Scheduled for Late-October Markup in House

Posted on by Trey Jackson

TRIA Reauthorization Bill News Conference - Oct. 19, 2019

House Financial Services Committee Chairwoman Maxine Waters (D-CA) formally introduced H.R. 4634 – the Terrorism Risk Insurance Program Reauthorization Act of 2019 – on October 16 and stated it will be part of an October 29-30 full committee markup.  (Chairwoman Waters at podium, above).  The announcement came before a joint House subcommittee hearing, which focused on the program and a possible fourth reauthorization of the Terrorism Risk Insurance Act (TRIA).  

  • “We want to reauthorize [the Terrorism Risk Insurance Act] just as it is,” Waters told CQ Roll Call.  “We’ve got support from the Senate, that’s what the Senate wants to do. And you know it’s not easy for both sides to come together.”  (CQ, Oct. 16)
  • During the Wednesday news conference, Waters stated, “Nearly two decades after TRIA was enacted, TRIA has thankfully never been triggered, and the program is working as intended, effectively protecting our economy from the costs of a terrorist attack and providing security for many of our nation’s hospitals, stadiums, schools and small businesses.”
  • She added, “Without a reauthorization, the program would expire at the end of 2020, but we could experience the harmful effects of a failure to reauthorize as soon as January of 2020. And so, I am pleased to put forth … a bill that provides a ten-year clean reauthorization of TRIA.”  (Committee news release, Oct. 16)

  • TRIA has been extended in 2005, 2007 and again in 2015 – following a 12-day lapse when Congress failed to complete their work on reauthorization at the end of 2014.
  • A long-term, clean TRIA reauthorization is a top priority for The Real Estate Roundtable.  Before the House hearing, the Coalition to Insure Against Terrorism, which includes The Roundtable, wrote to the subcommittees’ leadership in support of H.R. 4634.  (CIAT letter, Oct. 16)
  • The Roundtable and nearly 350 companies and organizations also urged Congress on September 17 to swiftly pass a long-term TRIA reauthorization. (Roundtable Weekly, Sept. 20)
  • House Financial Services Committee Ranking Member Patrick McHenry (R-NC) stated during the Wednesday hearing that Congress should first update TRIA to address cyberterrorism risks. “We’ve had substantial changes internationally since the last reauthorization.  I want to make sure we do the right thing when it comes to cyber threats, and I don’t believe what we have currently in law is sufficient for that,” said McHenry.  (CQ, Oct. 16)
  • In the Senate, TRIA reauthorization was a focus of a June Banking Committee hearing chaired by Sen. Mike Crapo (R-ID). (Roundtable Weekly, June 21)
  • Roundtable President and CEO Jeffrey DeBoer noted during an October 1 podcast episode of “Through The Noise,”, “Businesses and facilities of all types need to see the terrorism risk insurance program extended. This need applies to hospitals, all commercial real estate buildings, educational facilities, sports facilities, NASCAR and theme parks, and really any place where commercial facilities host large numbers of people.”
  • TRIA will be the focus of an October 30 discussion during The Roundtable’s Fall Meeting with American Property and Casualty Insurance Association President and CEO David Sampson.

Chairwoman Waters stated during the news conference that after the late October committee markup of H.R. 4634, “I am committed to bringing the bill to the floor soon afterward, and I will be exploring vehicles for the bill to be attached to.”

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