US HB7000 | 2019-2020 | 116th Congress


Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 22 2020 - 25% progression
Action: 2020-05-22 - Referred to the House Committee on Financial Services.
Pending: House Financial Services Committee
Text: Latest bill text (Introduced) [PDF]


Holding Foreign Companies Accountable Act This bill requires certain issuers of securities to establish that they are not owned or controlled by a foreign government. Specifically, an issuer must make this certification if the Public Company Accounting Oversight Board is unable to audit specified reports because the issuer has retained a foreign public accounting firm not subject to inspection by the board. Furthermore, if the board is unable to inspect the issuer's public accounting firm for three consecutive years, the issuer's securities are banned from trade on a national exchange or through other methods. Foreign issuers of securities that use such a firm to prepare an audit report must disclose for each non-inspection year the percentage of shares owned by governmental entities where the issuer is incorporated, whether these governmental entities have a controlling financial interest, information related to any board members who are officials of the Chinese Communist Party, and whether the articles of incorporation of the issuer contain any charter of the Chinese Communist Party.

Tracking Information

Register now for our free OneVote public service or GAITS Professional trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.


Holding Foreign Companies Accountable Act



2020-05-22HouseReferred to the House Committee on Financial Services.
2020-05-22HouseIntroduced in House

Same As/Similar To

SB945 (Same As) 2020-05-22 - Held at the desk.


US Congress State Sources

Bill Comments