There are many challenges for Internet of Things (IoT) sensor networks including the lack of robust standards, diverse wireline and wireless connectivity, interoperability, security, and privacy. Addressing these challenges, the Institute of Electrical and Electronics Engineers (IEEE) P1451.0 standard defines network services, transducer services, transducer electronic data sheets (TEDS) format, and a security framework to achieve sensor data security and interoperability for IoT applications. This paper proposes a security solution for IEEE P1451.1.6-based sensor networks for IoT applications utilizing the security framework defined in IEEE P1451.0. The proposed solution includes an architecture, a security policy with six security levels, security standards, and security TEDS. Further, this paper introduces a new service to update access control lists (ACLs) to regulate the access for topic names by the applications and provides an implementation of the security TEDS for IEEE P1451.1.6-based sensor networks. The paper also illustrates how to access security TEDS that contain metadata on security standards to achieve sensor data security and interoperability.