Section 1 Short title
This Act may be cited as the “Holding Chinese Listed Companies Accountable Act”.
Holding Chinese Listed Companies Accountable Act
A BILL
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.
Sec. 2 Trading prohibition for certain Chinese issuers
Section 104(i)(3) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7214(i)(3)) is amended—
in the paragraph heading, by inserting “(or 1 year in the case of a Chinese company)” after “non-inspections”; and
in subparagraph (A), in the matter preceding clause (i), by inserting “(or 1 non-inspection year in the case of a covered issuer organized under the laws of the People’s Republic of China)” after “years”.