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EQUITABLE Act of 2019

USA116th CongressHR-3124| House 
| Updated: 6/5/2019
K. Michael Conaway

K. Michael Conaway

Republican Representative

Texas

Cosponsors (6)
Tim Ryan (Democratic)Roger Marshall (Republican)Jim Hagedorn (Republican)Mike Gallagher (Republican)Ralph Norman (Republican)Francis Rooney (Republican)

Financial Services Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Jun 5, 2019

Latest Companion Bill Action

S 116-1731
Introduced in Senate
Jun 5, 2019
Introduced in House
Jun 5, 2019
Referred to the House Committee on Financial Services.
  • June 5, 2019

    Latest Companion Bill Action

    S 116-1731
    Introduced in Senate


  • June 5, 2019
    Introduced in House


  • June 5, 2019
    Referred to the House Committee on Financial Services.

Finance and Financial Sector

Related Bills

  • S 116-1731: EQUITABLE Act
  • HR 116-7181: Holding China Accountable Act
  • HR 116-7007: Compensation for Americans Act of 2020
Accounting and auditingAdministrative law and regulatory proceduresAsiaBanking and financial institutions regulationBusiness recordsChinaFinancial services and investmentsForeign and international corporationsGovernment information and archivesPolitical parties and affiliationSecuritiesSecurities and Exchange Commission (SEC)U.S. and foreign investments

EQUITABLE Act of 2019

USA116th CongressHR-3124| House 
| Updated: 6/5/2019
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jun 5, 2019

Latest Companion Bill Action

S 116-1731
Introduced in Senate
Jun 5, 2019
Introduced in House
Jun 5, 2019
Referred to the House Committee on Financial Services.
  • June 5, 2019

    Latest Companion Bill Action

    S 116-1731
    Introduced in Senate


  • June 5, 2019
    Introduced in House


  • June 5, 2019
    Referred to the House Committee on Financial Services.
K. Michael Conaway

K. Michael Conaway

Republican Representative

Texas

Cosponsors (6)
Tim Ryan (Democratic)Roger Marshall (Republican)Jim Hagedorn (Republican)Mike Gallagher (Republican)Ralph Norman (Republican)Francis Rooney (Republican)

Financial Services Committee

Finance and Financial Sector

Related Bills

  • S 116-1731: EQUITABLE Act
  • HR 116-7181: Holding China Accountable Act
  • HR 116-7007: Compensation for Americans Act of 2020
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Accounting and auditingAdministrative law and regulatory proceduresAsiaBanking and financial institutions regulationBusiness recordsChinaFinancial services and investmentsForeign and international corporationsGovernment information and archivesPolitical parties and affiliationSecuritiesSecurities and Exchange Commission (SEC)U.S. and foreign investments