# 116-hr-7000: Holding Foreign Companies Accountable Act

116-hr-7000, Holding Foreign Companies Accountable Act, is a 116th Congress bill sponsored by Rep. Sherman, Brad [D-CA-32] (D-CA); status Referred to the House Committee on Financial Services. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/116-hr-7000
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 116-hr-7000
- Congress: 116
- Title: Holding Foreign Companies Accountable Act
- Status: Referred to the House Committee on Financial Services.
- Introduced: 2020-05-22
- Sponsor: Rep. Sherman, Brad [D-CA-32] (D-CA)
- Cosponsors: 2
- Policy area: Finance and Financial Sector
- Touches household money: no
- Last recorded action: 2025-11-18

## 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 or through other methods. Foreign issuers of securities that use such a firm to prepare an audit report must disclose for each non-inspection year the percentage of shares owned by governmental entities where the issuer is incorporated, whether these governmental entities have a controlling financial interest, information related to any board members who are officials of the Chinese Communist Party, and whether the articles of incorporation of the issuer contain any charter of the Chinese Communist Party.

## Cosponsors (2)

- Rep. Gonzalez, Anthony [R-OH-16] (R-OH), 2020-08-25T00:00:00.000Z
- Rep. Foster, Bill [D-IL-11] (D-IL), 2020-09-22T00:00:00.000Z

## Related bills

- 116-hr-8662: Accelerating Access to Critical Therapies for ALS Act
- 116-hr-8270: I am Vanessa Guillén Act of 2020
- 116-hr-7308: RISE Act
- 116-hr-7197: RESTAURANTS Act of 2020
- 116-hr-7092: Great American Outdoors Act
- 116-hr-4104: Negro Leagues Baseball Centennial Commemorative Coin Act

## Sources
- [116-hr-7000 on Congress.gov](https://www.congress.gov/bill/116th-congress/house-bill/7000)

## Related
- [116-hr-8662: Accelerating Access to Critical Therapies for ALS Act](https://policyrisk.com/legislation/116-hr-8662)
- [116-hr-8270: I am Vanessa Guillén Act of 2020](https://policyrisk.com/legislation/116-hr-8270)
- [116-hr-7308: RISE Act](https://policyrisk.com/legislation/116-hr-7308)
- [116-hr-7197: RESTAURANTS Act of 2020](https://policyrisk.com/legislation/116-hr-7197)
- [116-hr-7092: Great American Outdoors Act](https://policyrisk.com/legislation/116-hr-7092)
- [116-hr-4104: Negro Leagues Baseball Centennial Commemorative Coin Act](https://policyrisk.com/legislation/116-hr-4104)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/116-hr-7000 (as of 2025-11-18).