Senate Bill 945
116th Congress(2019-2020)
Holding Foreign Companies Accountable Act
Became Law
Amendments
Became Public Law 116-222 on Dec 18, 2020
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
945
Congress
116
Policy Area
Finance and Financial Sector
Finance and Financial Sector
Primary focus of measure is U.S. banking and financial institutions regulation; consumer credit; bankruptcy and debt collection; financial services and investments; insurance; securities; real estate transactions; currency. Measures concerning financial crimes may fall under Crime and Law Enforcement. Measures concerning business and corporate finance may fall under Commerce policy area. Measures concerning international banking may fall under Foreign Trade and International Finance policy area.
checkPassed on May 20, 2020
Status
Passed
Type
Unanimous Consent
Unanimous Consent
A senator may request unanimous consent on the floor to set aside a specified rule of procedure so as to expedite proceedings. If no Senator objects, the Senate permits the action, but if any one senator objects, the request is rejected. Unanimous consent requests with only immediate effects are routinely granted, but ones affecting the floor schedule, the conditions of considering a bill or other business, or the rights of other senators, are normally not offered, or a floor leader will object to it, until all senators concerned have had an opportunity to inform the leaders that they find it acceptable.
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text of amendment in the nature of a substitute: CR S2520)
Summary
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.
Amendments (1)
May 20, 2020
Agreed to in Senate
6
Sponsorship
Senate Amendment 1589
In the nature of a substitute.
Agreed To
Sort by most recent
12/18/2020
Became Public Law No: 116-222.
12/18/2020
Signed by President.
12/08/2020
Presented to President.
12/02/2020
Motion to reconsider laid on the table Agreed to without objection.
12/02/2020
On motion to suspend the rules and pass the bill Agreed to by voice vote. (text: CR H6031-6032)
12/02/2020
Passed/agreed to in House: On motion to suspend the rules and pass the bill Agreed to by voice vote.(text: CR H6031-6032)
12/02/2020
DEBATE - The House proceeded with forty minutes of debate on S. 945.
12/02/2020
Considered under suspension of the rules. (consideration: CR H6031-6035)
12/02/2020
Mr. Clay moved to suspend the rules and pass the bill.
05/22/2020
Held at the desk.
05/22/2020
Received in the House.
05/22/2020
Message on Senate action sent to the House.
05/20/2020
Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S2520)
05/20/2020
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.(text of amendment in the nature of a substitute: CR S2520)
05/20/2020
Measure laid before Senate by unanimous consent. (consideration: CR S2519-2520)
05/20/2020
Senate Committee on Banking, Housing, and Urban Affairs discharged by Unanimous Consent.
12/10/2019
Committee on Banking, Housing, and Urban Affairs. Hearings held.
06/04/2019
Committee on Banking, Housing, and Urban Affairs. Hearings held.
03/28/2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
03/28/2019
Introduced in Senate
Public Record
Record Updated
Jan 11, 2023 1:42:36 PM