#aaf? ,,congress #b;d ,session ,s4 #ide ,,an ,,act ,to am5d ! ,s>banes-,oxley ,act ( #bjjb to require c]ta9 issu]s to disclose to ! ,securities & ,ex*ange ,commission in=mation reg>d+ =eign jurisdictions t prev5t ! ,public ,company ,acc\nt+ ,ov]sight ,bo>d f p]=m+ inspections "u t ,act1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,hold+ ,=eign ,companies ,acc\ntable ,act4 #b4 ,disclosure requirem5t ,section #ajd ( ! ,s>banes-,oxley ,act ( #bjjb 7#ae ,u4,s4,c4 #gbad7 is am5d$ by add+ at ! end ! foll[+3 7i7 ,disclosure reg>d+ =eign jurisdictions t prev5t inspections 7#a7 ,def9itions ,9 ?is subsection-- 7,a7 ! t]m cov]$ issu] means an issu] t is requir$ to file reports "u section #ac or #ae7;d7 ( ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #ghm1 #gho7d772 & 7,b7 ! t]m non-inspection ye> means1 ) respect to a cov]$ issu]1 a ye>-- 7i7 dur+ :i* ! ,commission id5tifies ! cov]$ issu] "u p>agraph 7#b77;,a7 ) respect to e report describ$ 9 subp>agraph 7,a7 fil$ by ! cov]$ issu] dur+ t ye>2 & 7ii7 t beg9s aft] ! date ( enactm5t ( ?is subsection4 7#b7 ,disclosure to ,commission ,! ,commission %all-- 7,a7 id5tify ea* cov]$ issu] t1 ) respect to ! prep>ation ( ! audit report on ! f9ancial /atem5t ( ! cov]$ issu] t is includ$ 9 a report describ$ 9 p>agraph 7#a77;,a7 fil$ by ! cov]$ issu]1 reta9s a regi/]$ public acc\nt+ firm t has a bran* or (fice t-- 7i7 is locat$ 9 a =eign jurisdiction2 & 7ii7 ! ,bo>d is unable to inspect or inve/igate completely because ( a position tak5 by an au?ority 9 ! =eign jurisdiction describ$ 9 clause 7i71 z det]m9$ by ! ,bo>d2 & 7,b7 require ea* cov]$ issu] id5tifi$ "u subp>agraph 7,a7 to1 9 accordance ) ! rules issu$ by ! ,commission "u p>agraph 7#d71 submit to ! ,commission docum5tation t e/abli%es t ! cov]$ issu] is n own$ or controll$ by a gov]nm5tal entity 9 ! =eign jurisdiction describ$ 9 subp>agraph 7,a77i74 7#c7 ,trad+ prohibition aft] #c ye>s ( non-inspections 7,a7 ,9 g5]al ,if ! ,commission det]m9es t a cov]$ issu] has #c consecutive non-inspection ye>s1 ! ,commission %all prohibit ! securities ( ! cov]$ issu] f be+ trad$-- 7i7 on a national securities ex*ange2 or 7ii7 ?r\gh any o!r me?od t is )9 ! jurisdiction ( ! ,commission to regulate1 includ+ ?r\gh ! me?od ( trad+ t is commonly ref]r$ to z ! ov]-!-c\nt] trad+ ( securities4 7,b7 ,removal ( initial prohibition ,if1 aft] ! ,commission imposes a prohibition on a cov]$ issu] "u subp>agraph 7,a71 ! cov]$ issu] c]tifies to ! ,commission t ! cov]$ issu] has reta9$ a regi/]$ public acc\nt+ firm t ! ,bo>d has inspect$ "u ?is section to ! satisfaction ( ! ,commission1 ! ,commission %all end t prohibition4 7,c7 ,recurr5ce ( non-inspection ye>s ,if1 aft] ! ,commission ends a prohibition "u subp>agraph 7,b7 or 7,d7 ) respect to a cov]$ issu]1 ! ,commission det]m9es t ! cov]$ issu] has a non-inspection ye>1 ! ,commission %all prohibit ! securities ( ! cov]$ issu] f be+ trad$-- 7i7 on a national securities ex*ange2 or 7ii7 ?r\gh any o!r me?od t is )9 ! jurisdiction ( ! ,commission to regulate1 includ+ ?r\gh ! me?od ( trad+ t is commonly ref]r$ to z ! ov]-!-c\nt] trad+ ( securities4 7,d7 ,removal ( subsequ5t prohibition ,if1 aft] ! end ( ! #e-ye> p]iod beg9n+ on ! date on :i* ! ,commission imposes a prohibition on a cov]$ issu] "u subp>agraph 7,c71 ! cov]$ issu] c]tifies to ! ,commission t ! cov]$ issu] w reta9 a regi/]$ public acc\nt+ firm t ! ,bo>d is able to inspect "u ?is section1 ! ,commission %all end t prohibition4 7#d7 ,rules ,n lat] ?an #ij days aft] ! date ( enactm5t ( ?is subsection1 ! ,commission %all issue rules t e/abli% ! mann] & =m 9 :i* a cov]$ issu] %all make a submission requir$ "u p>agraph 7#b77;,b74 4 #c4 ,additional disclosure 7a7 ,def9itions ,9 ?is section-- 7#a7 ! t]m audit report has ! mean+ giv5 ! t]m 9 section #b7;a7 ( ! ,s>banes-,oxley ,act ( #bjjb 7#ae ,u4,s4,c4 #gbja7;a772 7#b7 ! t]m ,commission means ! ,securities & ,ex*ange ,commission2 7#c7 ! t]m cov]$ =m-- 7,a7 means-- 7i7 ! =m describ$ 9 section #bdi4caj ( title #ag1 ,code ( ,f$]al ,regulations1 or any successor regulation2 & 7ii7 ! =m describ$ 9 section #bdi4bbj;f ( title #ag1 ,code ( ,f$]al ,regulations1 or any successor regulation2 & 7,b7 includes a =m t-- 7i7 is ! equival5t (1 or sub/antially simil> to1 ! =m describ$ 9 clause 7i7 or 7ii7 ( subp>agraph 7,a72 & 7ii7 a =eign issu] files ) ! ,commission "u ! ,securities ,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4 #gh;a et seq47 or rules issu$ "u t ,act2 7#d7 ! t]ms cov]$ issu] & non-inspection ye> h ! mean+s giv5 ! t]ms 9 subsection 7i77#a7 ( section #ajd ( ! ,s>banes-,oxley ,act ( #bjjb 7#ae ,u4,s4,c4 #gbad71 z add$ by section #b ( ?is ,act2 & 7#e7 ! t]m =eign issu] has ! mean+ giv5 ! t]m 9 section #bdj4c;b-#d ( title #ag1 ,code ( ,f$]al ,regulations1 or any successor regulation4 7b7 ,requirem5t ,ea* cov]$ issu] t is a =eign issu] & = :i*1 dur+ a non-inspection ye> ) respect to ! cov]$ issu]1 a regi/]$ public acc\nt+ firm describ$ 9 subsection 7i77#b77;,a7 ( section #ajd ( ! ,s>banes-,oxley ,act ( #bjjb 7#ae ,u4,s4,c4 #gbad71 z add$ by section #b ( ?is ,act1 has prep>$ an audit report %all disclose 9 ea* cov]$ =m fil$ by t issu] t cov]s su* a non-inspection ye>-- 7#a7 t1 dur+ ! p]iod cov]$ by ! cov]$ =m1 su* a regi/]$ public acc\nt+ firm has prep>$ an audit report = ! issu]2 7#b7 ! p]c5tage ( ! %>es ( ! issu] own$ by gov]nm5tal entities 9 ! =eign jurisdiction 9 :i* ! issu] is incorporat$ or o!rwise organiz$2 7#c7 :e!r gov]nm5tal entities 9 ! applicable =eign jurisdiction ) respect to t regi/]$ public acc\nt+ firm h a controll+ f9ancial int]e/ ) respect to ! issu]2 7#d7 ! "n ( ea* (ficial ( ! ,*9ese ,communi/ ,p>ty :o is a memb] ( ! bo>d ( directors (-- 7,a7 ! issu]2 or 7,b7 ! op]at+ entity ) respect to ! issu]2 & 7#e7 :e!r ! articles ( incorporation ( ! issu] 7or equival5t organiz+ docum5t7 conta9s any *>t] ( ! ,*9ese ,communi/ ,p>ty1 includ+ ! text ( any su* *>t]4 ,pass$ ! ,s5ate ,may #bj1 #bjbj4,secret>y