Cybersecurity Disclosure Act of 2015

Cybersecurity Disclosure Act of 2015

This bill directs the Securities and Exchange Commission (SEC) to issue final rules requiring each reporting company to:

• disclose in its mandatory annual report or annual proxy statement whether any member of its governing body has expertise or experience in cybersecurity, including details necessary to describe fully the nature of that expertise or experience; and
• if no member has such expertise or experience, describe what other company cybersecurity steps were taken into account by any persons, such as a nominating committee, responsible for identifying and evaluating nominees for the governing body.

The SEC shall also, in coordination with the National Institute of Standards and Technology, define what constitutes expertise or experience in cybersecurity, such as professional qualifications to administer information security program functions or experience detecting, preventing, mitigating, or addressing cybersecurity threats.