[Congressional Bills 112th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3503 Introduced in House (IH)]

112th CONGRESS
  1st Session
                                H. R. 3503

    To amend the Sarbanes-Oxley Act of 2002 to make Public Company 
Accounting Oversight Board disciplinary proceedings open to the public.


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                    IN THE HOUSE OF REPRESENTATIVES

                           November 18, 2011

 Mr. Westmoreland introduced the following bill; which was referred to 
                  the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
    To amend the Sarbanes-Oxley Act of 2002 to make Public Company 
Accounting Oversight Board disciplinary proceedings open to the public.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PUBLIC PROCEEDINGS.

    Section 105 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7215) is 
amended--
            (1) by amending subsection (c)(2) to read as follows:
            ``(2) Public hearings.--Hearings under this section shall 
        be public unless the Board, on its own motion or after 
        considering the motion of a party, orders otherwise.''; and
            (2) in subsection (d)(1)(C), by striking ``(once any stay 
        on the imposition of such sanction has been lifted)''.
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