Tag: emerging markey risks

SEC Chair supports foreign companies delisting bill

In May, the Senate passed the Holding Foreign Companies Accountable Act, which would amend SOX to impose certain requirements on a public company that is audited by a registered public accounting firm with a branch or office located in a foreign jurisdiction that the PCAOB is “unable to inspect or investigate completely because of a position taken by an authority in the foreign jurisdiction.” And, as previously discussed, Nasdaq  has also proposed rule changes aimed at addressing the same issue. (See this PubCo post.) A number of  key players are speaking up to endorse these actions.