3.0.0 945 2023-01-11T13:42:36Z 2023-01-11T13:42:36Z Senate S 2019-03-28 116 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Discharged from 2020-05-20T15:56:31Z Hearings by 2019-12-10T15:00:00Z Referred to 2019-03-28T19:10:56Z Holding Foreign Companies Accountable Act 116 7000 HR 2020-05-22 Referred to the House Committee on Financial Services. Identical bill CRS America LEADS Act 116 4629 S 2020-09-17 Read twice and referred to the Committee on Foreign Relations. Related bill CRS 2020-12-18 Became Public Law No: 116-222. President E40000 9 Library of Congress 2020-12-18 Became Public Law No: 116-222. BecameLaw 36000 9 Library of Congress 2020-12-18 Signed by President. President E30000 9 Library of Congress 2020-12-18 Signed by President. BecameLaw 36000 9 Library of Congress 2020-12-08 Presented to President. Floor E20000 2 House floor actions 2020-12-08 Presented to President. President 28000 9 Library of Congress 2020-12-02 16:46:57 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2020-12-02 16:46:54 On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6031-6032) Floor H37300 2 House floor actions 2020-12-02 16:46:54 Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6031-6032) Floor 8000 9 Library of Congress 2020-12-02 16:24:07 DEBATE - The House proceeded with forty minutes of debate on S. 945. Floor H8D000 2 House floor actions 2020-12-02 16:24:04 Considered under suspension of the rules. (consideration: CR H6031-6035) Floor H30000 2 House floor actions 2020-12-02 16:23:25 Mr. Clay moved to suspend the rules and pass the bill. Floor H30300 2 House floor actions 2020-05-22 11:37:20 Held at the desk. Floor H15000 2 House floor actions 2020-05-22 11:03:23 Received in the House. Floor H14000 2 House floor actions 2020-05-22 Senate Message on Senate action sent to the House. Floor 2020-05-20 Senate Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S2520) Floor 2020-05-20 Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text of amendment in the nature of a substitute: CR S2520) Floor 17000 9 Library of Congress 2020-05-20 Senate Measure laid before Senate by unanimous consent. (consideration: CR S2519-2520) Floor 2020-05-20 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. Discharge 2020-05-20 Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent. Committee 14500 9 Library of Congress ssbk00 Banking, Housing, and Urban Affairs Committee 2019-12-10 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2019-06-04 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Committee on Banking, Housing, and Urban Affairs. Hearings held. Committee 2019-03-28 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2019-03-28 Introduced in Senate IntroReferral 10000 9 Library of Congress K000393 Sen. Kennedy, John [R-LA] John Kennedy R LA Neely N V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2019-03-28 True C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2020-05-18 False S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2020-05-19 False C001095 Sen. Cotton, Tom [R-AR] Tom Cotton R AR 2020-05-20 False Public Law 116-222 Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Asia China Corporate finance and management Foreign and international corporations Government information and archives Securities Securities and Exchange Commission (SEC) Finance and Financial Sector 00 2019-03-28 Introduced in Senate 2020-04-27T20:21:41Z Holding Foreign Companies Accountable Act

This bill requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board. Furthermore, if the board is unable to inspect the issuer's public accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange.

]]> 55 2020-05-20 Passed Senate 2020-05-26T21:28:38Z Holding Foreign Companies Accountable Act

This bill requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board. Furthermore, if the board is unable to inspect the issuer's public accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange or through other methods.

Foreign issuers of securities that use such a firm to prepare an audit report must disclose for each non-inspection year

  • the percentage of shares owned by governmental entities where the issuer is incorporated,
  • whether these governmental entities have a controlling financial interest,
  • information related to any board members who are officials of the Chinese Communist Party, and
  • whether the articles of incorporation of the issuer contain any charter of the Chinese Communist Party.
]]> 53 2020-12-02 Passed House 2020-12-07T15:51:00Z Holding Foreign Companies Accountable Act

This bill requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board. Furthermore, if the board is unable to inspect the issuer's public accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange or through other methods.

Foreign issuers of securities that use such a firm to prepare an audit report must disclose for each non-inspection year

  • the percentage of shares owned by governmental entities where the issuer is incorporated,
  • whether these governmental entities have a controlling financial interest,
  • information related to any board members who are officials of the Chinese Communist Party, and
  • whether the articles of incorporation of the issuer contain any charter of the Chinese Communist Party.
]]> 49 2020-12-18 Public Law 2021-02-03T18:48:11Z Holding Foreign Companies Accountable Act

This bill requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board. Furthermore, if the board is unable to inspect the issuer's public accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange or through other methods.

Foreign issuers of securities that use such a firm to prepare an audit report must disclose for each non-inspection year

  • the percentage of shares owned by governmental entities where the issuer is incorporated,
  • whether these governmental entities have a controlling financial interest,
  • information related to any board members who are officials of the Chinese Communist Party, and
  • whether the articles of incorporation of the issuer contain any charter of the Chinese Communist Party.
]]> Holding Foreign Companies Accountable Act Display Title Holding Foreign Companies Accountable Act Short Title(s) as Introduced Holding Foreign Companies Accountable Act Introduced in Senate IS Short Title(s) as Passed Senate Holding Foreign Companies Accountable Act S Senate Engrossed in Senate ES Short Titles as Passed House Holding Foreign Companies Accountable Act H House Short Titles as Passed Senate Holding Foreign Companies Accountable Act S Senate Official Title as Introduced A bill to amend the Sarbanes-Oxley Act of 2002 to require certain issuers to disclose to the Securities and Exchange Commission information regarding foreign jurisdictions that prevent the Public Company Accounting Oversight Board from performing inspections under that Act, and for other purposes. Introduced in Senate IS 1589 116 SAMDT In the nature of a substitute. 2022-02-08T20:31:05Z 2020-05-20 Amendment SA 1589 agreed to in Senate by Unanimous Consent. SA 1589 https://www.congress.gov/amendment/116th-congress/senate-amendment/1589 K000393 Sen. Kennedy, John [R-LA] John Kennedy R LA Neely 5 5 R000595 Sen. Rubio, Marco [R-FL] Marco Rubio R FL 2020-05-20 True V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2020-05-20 True M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ 2020-05-20 True C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2020-05-20 True C001095 Sen. Cotton, Tom [R-AR] Tom Cotton R AR 2020-05-20 True 2020-05-20T04:00:00Z 2020-05-20T04:00:00Z Senate 116 S Senate S 945 Holding Foreign Companies Accountable Act 2023-01-11T13:42:36Z 6 2020-05-20 0 Senate Amendment SA 1589 agreed to in Senate by Unanimous Consent. Floor 2020-05-20 0 Senate Amendment SA 1589 proposed by Senator Kennedy. (consideration: CR S2520; text: CR S2520) In the nature of a substitute. Floor 2020-05-20 Senate amendment submitted Floor 91000 9 Library of Congress 2020-05-20 Senate amendment proposed (on the floor): Amendment SA 1589 proposed by Senator Kennedy. Floor 93000 9 Library of Congress 2020-05-20 Senate amendment agreed to: Amendment SA 1589 agreed to in Senate by Unanimous Consent. Floor 94000 9 Library of Congress Enrolled Bill https://www.govinfo.gov/content/pkg/BILLS-116s945enr/xml/BILLS-116s945enr.xml Engrossed in Senate 2020-05-20T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s945es/xml/BILLS-116s945es.xml Introduced in Senate 2019-03-28T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s945is/xml/BILLS-116s945is.xml 2020-12-19T04:59:59Z https://www.govinfo.gov/content/pkg/PLAW-116publ222/uslm/PLAW-116publ222.xml Public Law 2020-12-18 Became Public Law No: 116-222. 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.