Microsoft, IBM offer WS-Security spec to OASIS - "Microsoft, IBM, and VeriSign have submitted WS-Security, a group of Web services security specs first announced last April, to the OASIS standards group. The growing list of all-star players that have already agreed to serve on the OASIS technical committee includes BEA, Cisco, Intel, Iona, Novell, RSA, SAP, and--drum roll, please--Sun Microsystems." - One thing I also noticed about this submission was that it was offered to OASIS and not W3C.

On a related note, Learn about the various existing and upcoming XML security standards.