This document discusses cloud computing and related security issues. It provides background on cloud computing models and services. It discusses how cloud computing impacts enterprise security lifecycle management and control. Current trends of increasing cloud services adoption and consumerization of enterprise IT are described. Requirements for cloud computing like identity management, assurance, compliance and privacy are outlined. Initiatives to develop best practices for cloud security are also mentioned. Potential future research directions around trusted infrastructure, security analytics, economics of cloud stewardship and privacy management are proposed.