Blog: SEC Chair directs staff to consolidate rulemaking in light of the Holding Foreign Companies Accountable Act
By EsqSocial Corporation 22/12/20
On December 18, the Holding Foreign Companies Accountable Act was signed into law. The HFCAA, co-sponsored 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 substantial action by the SEC to implement it....
By: Cooley LLP