3.0.0 1731 2022-11-01T06:32:24Z 2022-11-01T06:32:24Z Senate S 2019-06-05 116 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2019-06-05T18:30:13Z EQUITABLE Act of 2019 116 3124 HR 2019-06-05 Referred to the House Committee on Financial Services. Related bill CRS Compensation for Americans Act of 2020 116 7007 HR 2020-05-22 Referred to the Committee on Foreign Affairs, and in addition to the Committees on Oversight and Reform, the Judiciary, Financial Services, Energy and Commerce, Armed Services, and Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS Holding China Accountable Act 116 7181 HR 2020-06-11 Referred to the Committee on Financial Services, and in addition to the Committees on the Judiciary, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. Related bill CRS 2019-06-05 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2019-06-05 Introduced in Senate IntroReferral 10000 9 Library of Congress R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL N M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2019-06-05 True C001095 Sen. Cotton, Tom [R-AR] Tom Cotton R AR 2019-06-05 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2019-06-05 True R000307 Sen. Roberts, Pat [R-KS] PAT ROBERTS R KS 2019-06-19 False S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2019-10-17 False Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Asia Banking and financial institutions regulation Business records China Financial services and investments Foreign and international corporations Government information and archives Political parties and affiliation Securities Securities and Exchange Commission (SEC) U.S. and foreign investments Finance and Financial Sector 00 2019-06-05 Introduced in Senate 2020-05-08T14:24:15Z Ensuring Quality Information and Transparency for Abroad-Based Listings on our Exchanges Act or the EQUITABLE Act

This bill generally restricts the use of a foreign public accounting firm by a foreign issuer of securities.

The bill requires certain disclosures from a foreign issuer of securities that uses, for its required audit report to the Securities and Exchange Commission (SEC), a foreign public accounting firm that is not subject to inspection by the Public Company Accounting Oversight Board.

If an issuer uses such a foreign public accounting firm, the issuer is generally prohibited from listing its securities on a national securities exchange. Specifically, an issuer that is not currently listed on an exchange and uses such a firm may not be listed. A currently-listed issuer will be delisted beginning in 2025 if the issuer uses such a firm for three consecutive years.

]]> EQUITABLE Act Display Title EQUITABLE Act Short Title(s) as Introduced EQUITABLE Act Introduced in Senate IS Short Title(s) as Introduced Ensuring Quality Information and Transparency for Abroad-Based Listings on our Exchanges Act Introduced in Senate IS Official Title as Introduced A bill to amend the Sarbanes-Oxley Act of 2002 to require the Public Company Accounting Oversight Board to maintain a list of certain foreign issuers, and for other purposes. Introduced in Senate IS Introduced in Senate 2019-06-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1731is/xml/BILLS-116s1731is.xml 2019-06-05 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.