December 18, 2015

New Bill would Require Public Companies to Disclose Cybersecurity Credentials

A new bill introduced to Congress on Thursday would require US publicly listed companies to disclose who on their Board has cybersecurity expertise. If it passes, the Cybersecurity Disclosure Act of 2015 would oblige companies to add details of which, if any, of their directors know  about online security in filing to the Securities and Exchange Commission (SEC).The idea is to prompt public companies to recognize their own failings in terms of protecting their data in the wake of a number of high-profile hacking cases and increasingly aggressive state-sponsored efforts to get at valuable commercial information.

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