PCAOB Enforcement Transparency Act of 2016

PCAOB Enforcement Transparency Act of 2016

This bill amends the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.

[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6251 Introduced in House (IH)]

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114th CONGRESS
  2d Session
                                H. R. 6251

  To promote transparency by permitting the Public Company Accounting 
Oversight Board to allow its disciplinary proceedings to be open to the 
                    public, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           September 28, 2016

 Mr. Garrett introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To promote transparency by permitting the Public Company Accounting 
Oversight Board to allow its disciplinary proceedings to be open to the 
                    public, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``PCAOB Enforcement Transparency Act 
of 2016''.

SEC. 2. OPEN MEETINGS AUTHORIZED.

    Section 105(c)(2) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 
7215(c)(2)) is amended to read as follows:
            ``(2) Public hearings.--Hearings under this section shall 
        be open to the public unless the Board, on its own motion or 
        after considering the motion of a party, orders otherwise.''.

SEC. 3. PUBLICATION OF DETERMINATIONS.

    Section 105(d)(1)(C) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 
7215(d)(1)(C)) is amended by striking ``(once any stay on the 
imposition of such sanction has been lifted)''.
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