EQUITABLE Act of 2019

Summary

Ensuring Quality Information and Transparency for Abroad-Based Listings on our Exchanges of 2019 or the EQUITABLE Act of 2019 This bill generally restricts the use of a foreign public accounting firm by a foreign issuer of securities. The bill requires certain disclosures from a foreign issuer of securities that uses, for its required audit report to the Securities and Exchange Commission (SEC), a foreign public accounting firm that is not subject to inspection by the Public Company Accounting Oversight Board. If an issuer uses such a foreign public accounting firm, the issuer is generally prohibited from listing its securities on a national securities exchange. Specifically, an issuer that is not currently listed on an exchange and uses such a firm may not be listed. A currently-listed issuer will be delisted beginning in 2025 if the issuer uses such a firm for three consecutive years.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 June 2019

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• Introduced in House (PDF)

  Introduced in House · EN · 5 June 2019

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• Introduced in House

  summary · EN · 5 June 2019

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