summary
Introduced
02/28/2019
02/28/2019
In Committee
02/28/2019
02/28/2019
Crossed Over
Passed
Dead
12/31/2020
12/31/2020
Introduced Session
116th Congress
Bill Summary
A bill to amend the Securities and Exchange Act of 1934 to promote transparency in the oversight of cybersecurity risks at publicly traded companies. This bill directs the Securities and Exchange Commission to issue final rules requiring a registered issuer to disclose in its mandatory annual report or annual proxy statement whether any member of its governing body has expertise or experience in cybersecurity; and if no member has such expertise or experience, describe what other company cybersecurity aspects were taken into account by the persons responsible for identifying and evaluating nominees for the governing body.
AI Summary
This bill amends the Securities Exchange Act of 1934 to require publicly traded companies to disclose in their annual reports or proxy statements whether any member of their governing body has expertise or experience in cybersecurity. If no member has such expertise or experience, the company must describe what other aspects of its cybersecurity were taken into account by the persons responsible for identifying and evaluating nominees for the governing body. The Securities and Exchange Commission is directed to define what constitutes cybersecurity expertise or experience, in consultation with the National Institute of Standards and Technology.
Committee Categories
Housing and Urban Affairs
Sponsors (7)
Jack Reed (D)*,
Susan Collins (R),
Catherine Cortez Masto (D),
Kevin Cramer (R),
Doug Jones (D),
John Neely Kennedy (R),
Mark Warner (D),
Last Action
Committee on Banking, Housing, and Urban Affairs. Hearings held. (on 06/11/2019)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/116th-congress/senate-bill/592/all-info |
| BillText | https://www.congress.gov/116/bills/s592/BILLS-116s592is.pdf |
| Bill | https://www.congress.gov/116/bills/s592/BILLS-116s592is.pdf.pdf |
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