PCAOB Enforcement Transparency Act of 2016

Bill: 114-hr-6251
Sponsor: full_name: Rep. Garrett, Scott [R-NJ-5]
Introduced: 2016-09-28
Policy area: Finance and Financial Sector
Subjects: Accounting and auditing

Administrative remedies

Banking and financial institutions regulation

Corporate finance and management

Public participation and lobbying
Latest action: action_date: 2016-09-28
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2016-09-28
action_desc: Introduced in House
text: <p><b>PCAOB Enforcement Transparency Act of 2016</b></p> <p> This bill amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.</p>

tv_txt: I 114th CONGRESS 2d Session H. R. 6251 IN THE HOUSE OF REPRESENTATIVES September 28, 2016 Mr. Garrett introduced the following bill; which was referred to the Committee on Financial Services A BILL To promote transparency by permitting the Public Company Accounting Oversight Board to allow its disciplinary proceedings to be open to the public, and for other purposes.

1. Short title This Act may be cited as the PCAOB Enforcement Transparency Act of 2016 . 2. Open meetings authorized Section 105(c)(2) of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7215(c)(2) ) is amended to read as follows: (2) Public hearings Hearings under this section shall be open to the public unless the Board, on its own motion or after considering the motion of a party, orders otherwise. . 3. Publication of determinations Section 105(d)(1)(C) of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7215(d)(1)(C) ) is amended by striking (once any stay on the imposition of such sanction has been lifted) .