Companies Urgedto Disclose their Cyber-Security Efforts

Nov 1, 2003 12:00 PM

           

Publicly traded companies could be required to disclose their efforts to secure information on computer systems, U.S. Homeland Security Secretary Tom Ridge says.

Ridge met with William Donaldson, chairman of the Securities and Exchange Commission (SEC), to discuss whether companies should be required to disclose cyber-security efforts in their SEC filings.

“I think we need to talk about some kind of public disclosure, what are you doing about your security, physical and cyber-security,” Ridge told the Business Software Alliance.

Ridge suggested in the speech that cyber-security problems were similar to the problems presented to publicly traded companies before Y2K.

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