Holding Foreign Companies Accountable Act 2020

The Holding Foreign Companies Accountable Act aims to amend the Sarbanes-Oxley Act of 2002. It requires certain issuers to disclose information regarding foreign jurisdictions that prevent the Public Company Accounting Oversight Board from performing inspections under the Act. The Act also prohibits the trading of securities of covered issuers that have 3 consecutive non-inspection years and requires additional disclosure by foreign issuers with registered public accounting firms in foreign jurisdictions.