118th Congress · HOUSE BILLBILL

H.R. 4879 — Holding Chinese Listed Companies Accountable Act

“To amend the Sarbanes-Oxley Act of 2002 to specify that the trading prohibition for certain Chinese issuers that retain public accounting firms that have not been subject to inspection by the Public Company Accounting Oversight Board shall apply after 1 year, and for other purposes.”

Finance and financial sector

Introduced Jul 25, 2023

Last action Jul 25, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 25, 2023

Step 2

Referred

Jul 25, 2023

Financial Services

Step 3

Committee

Step 4

House floor

Step 5

Senate

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill establishes stricter requirements for Chinese companies that are publicly traded. Under current law, the Securities and Exchange Commission must delist from an exchange a publicly traded company that uses, for two consecutive years, an accounting firm not subject to Public Company Accounting Oversight Board inspections. The bill reduces this to one year for companies that are organized under Chinese laws.

Provisions · 2 sectionsIntroduced in House

Timeline · 2 actions

Jul 25, 2023

Introduced in House

Jul 25, 2023

Referred to the House Committee on Financial Services.