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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.
Legislative Progress
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
83pct
2d open
vs 5,357 other S bills in the 117th — cohort avg 38d
This bill revises provisions related to the required certification to the Securities and Exchange Commission by certain publicly traded companies that they are not owned or controlled by a foreign government. Under current law, a company must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the company has retained a foreign public accounting firm not subject to inspection by the board due to a position taken by an authority in that foreign jurisdiction. Under this bill, a company must submit this certification if a position taken by any foreign government (not only the foreign government in which the firm is located) prevents inspection of the firm. Furthermore, under current law, if the board is unable to inspect the company's public accounting firm for three consecutive years, the company's securities are banned from trade on a national exchange or through other methods. The bill reduces this time to two consecutive years.
These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.
Filing registrants (4)
2022 · fourth_quarter · Accounting
General issues impacting the accounting and auditing profession, investor protection, and corporate governance and disclosures; formation agent and related beneficial ownership issues, H.R. 2513, the Corporate Transparency Act of 2019; general issues related to P.L. 107-204, the Sarbanes-Oxley Act, including PCAOB inspection inaccessibility and PCAOB proceedings, S. 2009, the PCAOB Enforcement Transparency Act of 2021; issues related to the independence of accounting standards setting; general issues related to the implementation of P.L. 116-222, the Holding Foreign Companies Accountable Act, S. 2184, the Accelerating Holding Foreign Companies Accountable Act; the Federal Contracting for Peace and Security Act; the Prohibiting Seals of Approval for Russia and Belarus Act; H.R. 7602 and S. 3905, Preventing Organizational Conflicts of Interest in Federal Acquisition Act.
Held at the desk.
Received in the House.
Message on Senate action sent to the House.
Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent. (consideration: CR S4692; text: CR S4692)
Passed/agreed to in Senate: Introduced in the Senate, read twice, considered, read the third time, and passed without amendment by Unanimous Consent.(consideration: CR S4692; text: CR S4692)
Introduced in Senate
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Sources: Congress.gov
Client expense: $520,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Accounting
General issues impacting the accounting and auditing profession, investor protection, and corporate governance and disclosures; formation agent and related beneficial ownership issues, H.R. 2513, the Corporate Transparency Act of 2019; general issues related to P.L. 107-204, the Sarbanes-Oxley Act, including PCAOB inspection inaccessibility and PCAOB proceedings, S. 2009, the PCAOB Enforcement Transparency Act of 2021; issues related to the independence of accounting standards setting; general issues related to the implementation of P.L. 116-222, the Holding Foreign Companies Accountable Act, S. 2184, the Accelerating Holding Foreign Companies Accountable Act; the Federal Contracting for Peace and Security Act; the Prohibiting Seals of Approval for Russia; Belarus Act. H.R. 7602 and S. 3905, Preventing Organizational Conflicts of Interest in Federal Acquisition Act.
Client expense: $540,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Accounting
General issues impacting the accounting and auditing profession, investor protection, and corporate governance and disclosures; formation agent and related beneficial ownership issues, H.R. 2513, the Corporate Transparency Act of 2019; general issues related to P.L. 107-204, the Sarbanes-Oxley Act, including PCAOB inspection inaccessibility and PCAOB proceedings, S. 2009, the PCAOB Enforcement Transparency Act of 2021; issues related to the independence of accounting standards setting; general issues related to the implementation of P.L. 116-222, the Holding Foreign Companies Accountable Act, S. 2184, the Accelerating Holding Foreign Companies Accountable Act; the Federal Contracting for Peace and Security Act; the. Prohibiting Seals of Approval for Russia; Belarus Act. H.R. 7602 and S. 3905, Preventing Organizational Conflicts of Interest in Federal Acquisition Act.
Client expense: $410,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · first_quarter · Financial Institutions/Investments/Securities
H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) H.R. 6285- Accelerating Holding Foreign Companies Accountable Act (Sherman) H.R. 7066- Russia and Belarus Financial Sanctions Act (Sherman) H.R. 7151- Ensuring Sound Guidance Act (Barr) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) S. 3779- Adjustable Interest Rate (LIBOR) Act (Tester) S. 3948- Increasing Investor Opportunities Act (Daines) Improving Disclosure for Investors Act (draft) Processing fees for delivering investment materials Consolidated Audit Trail data security/breach notification Diverse Investment Advisers Act (draft) Diversity and Inclusion in the Asset Management Industry ESG Reporting Standards Proxy Voting by Asset Managers Russia Sanctions/Executive Orders SEC public company climate disclosure proposal SEC money market fund proposal Shorten US securities settlement cycle to trade date plus one day
Client expense: $950,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · first_quarter · Accounting
General issues impacting the accounting and auditing profession, investor protection, and corporate governance and disclosures; formation agent and related beneficial ownership issues, H.R. 2513, the Corporate Transparency Act of 2019; general issues related to P.L. 107-204, the Sarbanes-Oxley Act, including PCAOB inspection inaccessibility and PCAOB proceedings, S. 2009, the PCAOB Enforcement Transparency Act of 2021; issues related to the independence of accounting standards setting; general issues related to the implementation of P.L. 116-222, the Holding Foreign Companies Accountable Act, S. 2184, the Accelerating Holding Foreign Companies Accountable Act; the Federal Contracting for Peace and Security Act; the. Prohibiting Seals of Approval for Russia and Belarus Act.
Client expense: $610,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · fourth_quarter · Financial Institutions/Investments/Securities
H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 1996- Secure and Fair Enforcement Banking Act of 2021 (Perlmutter) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) H.R. 5598- Access to Small Business Investor Capital Act (Sherman) H.R. 6285- Accelerating Holding Foreign Companies Accountable Act (Sherman) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 910- Secure and Fair Enforcement Banking Act of 2021 (Merkley) S. 1605- National Defense Authorization Act for Fiscal Year 2022 S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) Improving Disclosure for Investors Act Processing fees for delivering investment materials Adjustable Interest Rate (LIBOR) Act (Senate draft) Consolidated Audit Trail SEC Cybersecurity and Data Protection Diverse Investment Advisers Act (House draft) Diversity and Inclusion in the Asset Management Industry Enhanced ESG Disclosure SEC's proposed money market fund reforms Shorten US securities settlement cycle to trade date plus one day Stablecoins
Client expense: $840,000 · Firm income: Not reported
2021 · fourth_quarter · Financial Institutions/Investments/Securities
H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 1996- Secure and Fair Enforcement Banking Act of 2021 (Perlmutter) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) H.R. 5598- Access to Small Business Investor Capital Act (Sherman) H.R. 6285- Accelerating Holding Foreign Companies Accountable Act (Sherman) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 910- Secure and Fair Enforcement Banking Act of 2021 (Merkley) S. 1605- National Defense Authorization Act for Fiscal Year 2022 S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) Improving Disclosure for Investors Act Processing fees for delivering investment materials Adjustable Interest Rate (LIBOR) Act (Senate draft) Consolidated Audit Trail SEC Cybersecurity and Data Protection Diverse Investment Advisers Act (House draft) Diversity and Inclusion in the Asset Management Industry Enhanced ESG Disclosure SEC's proposed money market fund reforms Shorten US securities settlement cycle to trade date plus one day Stablecoins
Client expense: $840,000 · Firm income: Not reported
2021 · fourth_quarter · Accounting
General issues impacting the accounting and auditing profession, investor protection and corporate governance; formation agent and related beneficial ownership issues, H.R. 2513, the Corporate Transparency Act of 2019; general issues related to P.L. 107-204, the Sarbanes-Oxley Act, including PCAOB inspection inaccessibility and PCAOB proceedings, S. 2009, the PCAOB Enforcement Transparency Act of 2021; issues related to the independence of accounting standards setting; general issues related to the implementation of P.L. 116-222, the Holding Foreign Companies Accountable Act, S. 2184, the Accelerating Holding Foreign Companies Accountable Act.
Client expense: $450,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · fourth_quarter · Trade (domestic/foreign)
S. 2184 - the Accelerating the Holding Foreign Companies Accountable Act; Monitoring issues related to China.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · third_quarter · Financial Institutions/Investments/Securities
H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1187- Corporate Governance Improvement and Investor Protection Act H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 1996- Secure and Fair Enforcement Banking Act of 2021 (Perlmutter) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 2570- Climate Risk Disclosure Act of 2021 (Casten) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) H.R. 4616- Adjustable Interest Rate (LIBOR) Act of 2021 (Sherman) H.R. 4618- Short Sale Transparency and Market Fairness Act (Waters) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 910- Secure and Fair Enforcement Banking Act of 2021 (Merkley) S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) S. 2684- Consumer Financial Choice and Capital Markets Protection Act of 2021 (Toomey) Improving Disclosure for Investors Act of 2021 Processing fees for delivering investment materials Consolidated Audit Trail SEC Cybersecurity and Data Protection Diverse Investment Advisers Act Enhanced ESG Disclosure by Corporate Issuers
Client expense: $1,720,000 · Firm income: Not reported
2021 · third_quarter · Accounting
General issues impacting the accounting and auditing profession, investor protection and corporate governance; formation agent and related beneficial ownership issues, H.R. 2513, the Corporate Transparency Act of 2019; general issues related to P.L. 107-204, the Sarbanes-Oxley Act, including PCAOB inspection inaccessibility and PCAOB proceedings, S. 2009, the PCAOB Enforcement Transparency Act of 2021; issues related to the independence of accounting standards setting; general issues related to the implementation of P.L. 116-222, the Holding Foreign Companies Accountable Act, S. 2184, the Accelerating Holding Foreign Companies Accountable Act.
Client expense: $320,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · third_quarter · Trade (domestic/foreign)
Implementation of Holding Foreign Companies Accountable Act (PL 116-222); S. 2184 - the Accelerating the Holding Foreign Companies Accountable Act; Monitoring issues related to China.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · third_quarter · Accounting
Issues related to accounting and auditing S. 1260, United States Innovation and Competition Act of 2021 -- Issues related to listing and audit of foreign companies S. 2184, Issues related to delisting of foreign companies
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · second_quarter · Accounting
Issues related to accounting and auditing S. 1260, United States Innovation and Competition Act of 2021 -- Issues related to listing and audit of foreign companies S. 2184, Issues related to delisting of foreign companies
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2021 · second_quarter · Financial Institutions/Investments/Securities
H.R. 699- Mutual Fund Litigation Reform Act (Emmer) H.R. 1187- Corporate Governance Improvement and Investor Protection Act H.R. 1277- Improving Corporate Governance Through Diversity Act of 2021 (Meeks) H.R. 1996- Secure and Fair Enforcement Banking Act of 2021 (Perlmutter) H.R. 2123- Diversity and Inclusion Data Accountability and Transparency Act (Beatty) H.R. 2265- Financial Exploitation Prevention Act (Wagner) H.R. 2570- Climate Risk Disclosure Act of 2021 (Casten) H.R. 3007- Disclosure of Tax Havens and Offshoring Act (Axne) H.R. 3412- Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 3899- Financial Stability Oversight Council Improvement Act (Foster) H.R. 4262- Increasing Investor Opportunities Act (Gonzalez) S. 374- Improving Corporate Governance Through Diversity Act of 2021 (Menendez) S. 910- Secure and Fair Enforcement Banking Act of 2021 (Merkley) S. 2184- Accelerating Holding Foreign Companies Accountable Act (Kennedy) Consolidated Audit Trail Diverse Investment Advisers Act Enhanced ESG Disclosure by Corporate Issuers Exchange-Traded Funds Improving Disclosure for Investors Act of 2021 Money Market Mutual Funds SEC Form 13F SEC Cybersecurity and Data Protection
Client expense: $1,030,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of