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Faster delisting of foreign companies for uninspected financial audits.

This act shortens the period after which foreign companies can be delisted from U.S. stock exchanges if their financial audits are not inspected by U.S. oversight bodies. This change aims to enhance investment security and protect citizens from risks associated with opaque financial reporting, influencing where and how safely one can invest their savings.
Key points
Foreign companies whose audits are not inspected by U.S. oversight can be delisted from exchanges more quickly.
Instead of three years, two years of non-inspection will be sufficient for a company to be removed from U.S. stock trading.
The goal is to protect investors and increase financial transparency for companies listed on U.S. exchanges.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 117_HR_6285
Sponsor: Rep. Sherman, Brad [D-CA-30]
Process start date: 2021-12-14
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Accelerating Holding Foreign Companies Accountable Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_6285.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-12-14.

What are the main provisions?

Key points include:

  • Foreign companies whose audits are not inspected by U.S. oversight can be delisted from exchanges more quickly.
  • Instead of three years, two years of non-inspection will be sufficient for a company to be removed from U.S. stock trading.
  • The goal is to protect investors and increase financial transparency for companies listed on U.S. exchanges.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Sherman, Brad [D-CA-30].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Financial Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Economy