Text: S.1256 — 116th Congress (2019-2020)All Information (Except Text)

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Introduced in Senate (04/30/2019)


116th CONGRESS
1st Session
S. 1256


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.


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.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “PCAOB Enforcement Transparency Act of 2019”.

SEC. 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.”.

SEC. 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)”.