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HR 3124 116th Congress House Finance and Financial Sector Accounting and auditing Administrative law and regulatory procedures Asia Banking and financial institutions regulation Business records China Financial services and investments Foreign and international corporations Government information and archives Political parties and affiliation Securities Securities and Exchange Commission (SEC) U.S. and foreign investments

EQUITABLE Act of 2019

Introduced: June 5, 2019 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 5, 2019
Referred to the House Committee on Financial Services.
Jun 5, 2019
Introduced in House
 Plain-English summary Congressional Research Service

Ensuring Quality Information and Transparency for Abroad-Based Listings on our Exchanges of 2019 or the EQUITABLE Act of 2019

This bill generally restricts the use of a foreign public accounting firm by a foreign issuer of securities.

The bill requires certain disclosures from a foreign issuer of securities that uses, for its required audit report to the Securities and Exchange Commission (SEC), a foreign public accounting firm that is not subject to inspection by the Public Company Accounting Oversight Board.

If an issuer uses such a foreign public accounting firm, the issuer is generally prohibited from listing its securities on a national securities exchange. Specifically, an issuer that is not currently listed on an exchange and uses such a firm may not be listed. A currently-listed issuer will be delisted beginning in 2025 if the issuer uses such a firm for three consecutive years.

What's happening now June 5, 2019

Referred to the House Committee on Financial Services.

 Committees of jurisdiction 1
 Cosponsors 2
All 2 Republican 2