[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6285 Introduced in House (IH)]

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117th CONGRESS
  1st Session
                                H. R. 6285

    To amend the Sarbanes-Oxley Act of 2002 to institute a trading 
  prohibition for certain issuers that retain public accounting firms 
    that have not been subject to inspection by the Public Company 
          Accounting Oversight Board, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                           December 14, 2021

  Mr. Sherman (for himself, Mrs. Spartz, and Mr. Barr) introduced the 
   following bill; which was referred to the Committee on Financial 
                                Services

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                                 A BILL


 
    To amend the Sarbanes-Oxley Act of 2002 to institute a trading 
  prohibition for certain issuers that retain public accounting firms 
    that have not been subject to inspection by the Public Company 
          Accounting Oversight Board, and for other purposes.

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

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Accelerating Holding Foreign 
Companies Accountable Act''.

SEC. 2. TRADING PROHIBITION FOR 2 CONSECUTIVE NON-INSPECTION YEARS.

    Section 104(i) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 
7214(i)) is amended--
            (1) in paragraph (2)(A)(ii), by striking ``the foreign 
        jurisdiction described in clause (i)'' and inserting ``a 
        foreign jurisdiction''; and
            (2) in paragraph (3)--
                    (A) in the paragraph heading, by striking ``3'' and 
                inserting ``2''; and
                    (B) in subparagraph (A), in the matter preceding 
                clause (i), by striking ``3'' and inserting ``2''.
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