State agencies have been directed by Gov. Gray Davis to prevent Y2K-related releases of hazardous materials. June 1999 report on Year 2000. Dingell specifically cited the SEC's own lack of Y2K readiness. The SEC repor t also has Dingell concerned about public companies, including better disclosure in the areas of Y2K failures abroad, internal and external deadline failures, and contingency plans. Dingell voiced his concern over Y2K risks in international financial mar kets as well as the progress being reported by transfer agents and investment advisors.
Substantial improvement is warranted.
Dingell called on the SEC to provide an interim report on the situation by October 15. DoD Says Battle with Bug is Almost Won Defense Department leadership presented a united front on the Y2K readiness of the military this week in a Pentagon press conference. Defense Secretary William Cohen indicated that the nation's nuclear arsenal along with its other mission critical system s are, for the most part, Y2K ready or will be by the end of the year. Cohen said the Russian military will act to address the Year 2000 issue in their command and control systems because it is in their self interest not to trigger a disaster. He indicated that the U.S. assumption is that China is doing likewise.