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Holding Foreign Companies Accountable Act Signed into Law | Miller Canfield

To embed, copy and paste the code into your website or blog: The Holding Foreign Companies Accountable Act (Act), which was signed into law by President Trump on December 18, 2020, amends the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) and requires the Securities and Exchange Commission (SEC) to identify reporting public companies using registered public accounting firms located in a foreign country that prevents the Public Company Accounting Oversight Board (PCAOB) from auditing the accountin...
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Blog: SEC Chair directs staff to consolidate rulemaking in light of the Holding Foreign Companies Accountable Act | Cooley LLP

To embed, copy and paste the code into your website or blog: On December 18, the Holding Foreign Companies Accountable Act was signed into law. The HFCAA, co-sponsoredย by Senators John Kennedy, a Republican from Louisiana, and Chris Van Hollen, a Democrat from Maryland, amends SOX to prohibit trading on U.S. exchanges of public reporting companies audited by registered public accounting firms that the PCAOB has been unable to inspect for three sequential years. The HFCAA also requires substant...
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