H.R. 3503 (112th): To amend the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings open to the public.

The text of the bill below is as of Nov 18, 2011 (Introduced).

Source: GPO

I

112th CONGRESS

1st Session

H. R. 3503

IN THE HOUSE OF REPRESENTATIVES

November 18, 2011

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

A BILL

To amend the Sarbanes-Oxley Act of 2002 to make Public Company Accounting Oversight Board disciplinary proceedings open to the public.

1.

Public proceedings

Section 105 of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7215) is amended—

(1)

by amending subsection (c)(2) to read as follows:

(2)

Public hearings

Hearings under this section shall be public unless the Board, on its own motion or after considering the motion of a party, orders otherwise.

; and

(2)

in subsection (d)(1)(C), by striking (once any stay on the imposition of such sanction has been lifted).