PCAOB Enforcement Transparency Act of 2019

Bill: 116-s-1256
Sponsor: full_name: Sen. Reed, Jack [D-RI]
Introduced: 2019-04-30
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: 2019-04-30
text: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (Sponsor introductory remarks on measure: CR S2522-2523)

Summaries:
action_date: 2019-04-30
action_desc: Introduced in Senate
text: <p><b>PCAOB Enforcement Transparency Act of 2019</b></p> <p>This bill makes Public Company Accounting Oversight Board disciplinary proceedings open to the public unless the board, on its own motion or after considering the motion of a party, orders otherwise.</p>

tv_txt: II 116th CONGRESS 1st Session S. 1256 IN THE SENATE OF THE UNITED STATES April 30, 2019 Mr. Reed (for himself and Mr. Grassley ) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs 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 2019 . 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) .