Title 15, Commerce and TradeRelease 119-110

§7214a Additional Disclosure

Title 15 › CHAPTER 98 — PUBLIC COMPANY ACCOUNTING REFORM AND CORPORATE RESPONSIBILITY › SUBCHAPTER I — PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD › § 7214a

Last updated Sep 22, 2026|Official source

Summary

Names for some terms: "audit report" means the audit report as defined in the law; "Commission" means the Securities and Exchange Commission (SEC); "covered form" means the specific SEC filing forms for foreign issuers or their equivalents; "covered issuer" and "non-inspection year" mean what the law says elsewhere; "foreign issuer" means a company treated as foreign under SEC rules. If a covered foreign issuer had an audit prepared by a registered accounting firm during a non‑inspection year, each covered form it files for that year must say: that an audit report was prepared; the percent of the issuer’s shares owned by government entities in the issuer’s home jurisdiction; whether those government entities have a controlling financial interest; the name of any Chinese Communist Party official on the issuer’s or its operating entity’s board; and whether the issuer’s organizing documents include any Chinese Communist Party charter, including the charter text if present.

Full Legal Text

Title 15, §7214a

Commerce and Trade, Source: USLM XML via OLRC

(a)Definitions
In this section
(1)
(2)the term “Commission” means the Securities and Exchange Commission;
(3)the term “covered form”—
(A)means—
(i)the form described in section 249.310 of title 17, Code of Federal Regulations, or any successor regulation; and
(ii)the form described in section 249.220f of title 17, Code of Federal Regulations, or any successor regulation; and
(B)includes a form that—
(i)is the equivalent of, or substantially similar to, the form described in clause (i) or (ii) of subparagraph (A); and
(ii)a foreign issuer files with the Commission under the Securities Exchange Act of 1934 (15 U.S.C. 78a et seq.) or rules issued under that Act;
(4)the terms “covered issuer” and “non-inspection year” have the meanings given the terms in subsection (i)(1) of section 7214 of this title, as added by section 2 of this Act; and
(5)the term “foreign issuer” has the meaning given the term in section 240.3b–4 of title 17, Code of Federal Regulations, or any successor regulation.
(b)Requirement
Each covered issuer that is a foreign issuer and for which, during a non-inspection year with respect to the covered issuer, a registered public accounting firm described in subsection (i)(2)(A) of section 7214 of this title, as added by section 2 of this Act, has prepared an audit report shall disclose in each covered form filed by that issuer that covers such a non-inspection year—
(1)that, during the period covered by the covered form, such a registered public accounting firm has prepared an audit report for the issuer;
(2)the percentage of the shares of the issuer owned by governmental entities in the foreign jurisdiction in which the issuer is incorporated or otherwise organized;
(3)whether governmental entities in the applicable foreign jurisdiction with respect to that registered public accounting firm have a controlling financial interest with respect to the issuer;
(4)the name of each official of the Chinese Communist Party who is a member of the board of directors of—
(A)the issuer; or
(B)the operating entity with respect to the issuer; and
(5)whether the articles of incorporation of the issuer (or equivalent organizing document) contains any charter of the Chinese Communist Party, including the text of any such charter.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

The Securities Exchange Act of 1934, referred to in subsec. (a)(3)(B)(ii), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of this title. For complete classification of this Act to the Code, see section 78a of this title and Tables. section 2 of this Act, referred to in subsecs. (a)(4) and (b), means section 2 of Pub. L. 116–222.

Reference

Citations & Metadata

Citation

15 U.S.C. § 7214a

Title 15, Commerce and Trade

Last Updated

Sep 22, 2026

Release point: 119-110