Promoting Transparency in Financial Reporting Act of 2009

3.0.0 2664 2023-01-11T13:18:06Z 2023-01-11T13:18:06Z House H HR 2009-06-02 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2009-09-10T18:18:33Z hsba00 Financial Services Committee House Standing Referred to 2009-06-02T18:01:41Z 2009-09-10 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2009-09-09 11:40:56 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2009-09-09 11:40:55 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H9359) Floor H37300 2 House floor actions 2009-09-09 11:40:55 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H9359) Floor 8000 9 Library of Congress 2009-09-09 11:35:04 DEBATE - The House proceeded with forty minutes of debate on H.R. 2664. Floor H8D000 2 House floor actions 2009-09-09 11:35:03 Considered under suspension of the rules. (consideration: CR H9359-9360) Floor H30000 2 House floor actions 2009-09-09 11:35:02 Mr. Moore (KS) moved to suspend the rules and pass the bill. Floor H30300 2 House floor actions 2009-06-02 Referred to the House Committee on Financial Services. IntroReferral H11100 2 House floor actions hsba00 Financial Services Committee 2009-06-02 Introduced in House IntroReferral Intro-H 9 Library of Congress 2009-06-02 Introduced in House IntroReferral 1000 9 Library of Congress L000568 Rep. Lee, Christopher J. [R-NY-26] Christopher Lee R NY J. 26 N D000603 Rep. Davis, Geoff [R-KY-4] Geoff Davis R KY 4 2009-06-02 True S001157 Rep. Scott, David [D-GA-13] David Scott D GA 13 2009-06-02 True C000243 Rep. Castle, Michael N. [R-DE-At Large] MICHAEL CASTLE R DE N. 0 2009-06-02 True P000586 Rep. Putnam, Adam H. [R-FL-12] ADAM PUTNAM R FL H. 12 2009-06-02 True Finance and Financial Sector Accounting and auditing Business records Congressional committees Congressional oversight Corporate finance and management Evidence and witnesses Financial services and investments House Committee on Financial Services House of Representatives Securities and Exchange Commission (SEC) Finance and Financial Sector

00 2009-06-02 Introduced in House 2009-07-06T18:36:37Z Promoting Transparency in Financial Reporting Act of 2009 - Requires the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board to provide oral testimony by their respective Chairpersons (or a designee), beginning in 2009, and annually for five years, to the Committee on Financial Services of the House of Representatives on their efforts to reduce the complexity in financial reporting to provide more accurate and clear financial information to investors.

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81 2009-09-09 Passed House without amendment 2009-09-15T21:07:03Z (This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.)

Promoting Transparency in Financial Reporting Act of 2009 - Requires the Securities and Exchange Commission (SEC), the Financial Accounting Standards Board (FASB), and the Public Company Accounting Oversight Board to present testimony annually for five years, beginning in 2009, to the Committee on Financial Services of the House of Representatives regarding their efforts to reduce the complexity in financial reporting and to provide more accurate and clear financial information to investors.

Requires such testimony to address the following issues: (1) reassessing complex and outdated accounting standards; (2) improving the understandability, consistency, and overall usability of accounting and auditing literature; (3) developing principles-based accounting standards; (4) encouraging the use and acceptance of interactive data; and (5) promoting disclosures in "plain English."

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Promoting Transparency in Financial Reporting Act of 2009 Display Title Promoting Transparency in Financial Reporting Act of 2009 Official Title as Introduced To require annual oral testimony before the Financial Services Committee of the Chairperson or a designee of the Chairperson of the Securities and Exchange Commission, the Financial Accounting Standards Board, and the Public Company Accounting Oversight Board, relating to their efforts to promote transparency in financial reporting. Introduced in House IH Short Titles as Introduced Promoting Transparency in Financial Reporting Act of 2009 Short Titles as Passed House Promoting Transparency in Financial Reporting Act of 2009 H House Referred in Senate 2009-09-10T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2664rfs/xml/BILLS-111hr2664rfs.xml Engrossed in House 2009-09-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2664eh/xml/BILLS-111hr2664eh.xml Introduced in House 2009-06-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr2664ih/xml/BILLS-111hr2664ih.xml 2009-09-10 Received in the Senate and Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.