Cybersecurity Systems and Risks Reporting Act

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

D McDermottSponsor

No cosponsors.

What it does: CRS summary · Introduced in House · Apr 26, 2016

Cybersecurity Systems and Risks Reporting Act

This bill amends the Sarbanes-Oxley Act of 2002 to apply to cybersecurity systems and cybersecurity systems officers the same requirements regarding corporate responsibility for financial reports and managements assessments of internal control structures and procedures for financial reporting as apply to public companies subject to oversight by the Securities and Exchange Commission (SEC).

The SEC shall issue rules to define cybersecurity expert and require each issuer of securities to disclose whether or not (and if not, the reasons why) the issuer's audit committee has at least one member who is a cybersecurity expert.

The SEC shall review an issuer's information systems and cybersecurity systems statements. In scheduling the such reviews the SEC shall consider, among other things, issuers that have issued cybersecurity risks disclosures.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Cybersecurity Systems and Risks Reporting Act

Latest action (Apr 26, 2016): Referred to the House Committee on Financial Services.

Policy area: Finance and Financial Sector · Origin: House · Introduced: Apr 26, 2016

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.