H.R. 6285 — Introduced in House

I 117th CONGRESS 1st Session H. R. 6285 IN THE HOUSE OF REPRESENTATIVES December 14, 2021Mr. Sherman (for himself, Mrs. Spartz, and Mr. Barr) introduced the following bill; which was referred to the Committee on Financial Services 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. 1. Short title This Act may be cited as the Accelerating Holding Foreign Companies Accountable Act. 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.