Browse Arkansas Code titles and sections
15 U.S.C. § 7216 — Additional disclosure
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section—
(1) the term “audit report” has the meaning given the term in [section 7201(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section7201/a&num=0&edition=prelim);
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78a&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section7214&num=0&edition=prelim), 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section7214&num=0&edition=preli
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 7216
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: bfda3e9c997afbf2193ab702f871bd651b5d61f0730a67d7b6fcd193c96a32e6. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_f3029875e2fe2f83c1769197
Source file: Laws/federal/codes/united-states-code/title-15/section-7216-additional-disclosure--3bfec9216b.md
Pages: Not recorded – Not recorded
Passage SHA-256: 0beadcec1deae5f975cb13c7433ca49c1a43d3ed5d8f5a9d3ce9d7b83c4fe9c1
Source location: Title 15, Chapter 98, § 7216; chapter-098-public-company-accounting-reform-and-corporate-responsibility.md
Stored source content
**(a) Definitions** In this section—
(1) the term “audit report” has the meaning given the term in [section 7201(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section7201/a&num=0&edition=prelim);
(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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78a&num=0&edition=prelim) 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section7214&num=0&edition=prelim), 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](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section7214&num=0&edition=prelim), 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.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Mandatory registration** It shall be unlawful for any person that is not a registered public accounting firm to prepare or issue, or to participate in the preparation or issuance of, any audit report with respect to any issuer, broker, or dealer.
**(b) Applications for registration**
(1) **Form of application** — A public accounting firm shall use such form as the Board may prescribe, by rule, to apply for registration under this section.
(2) **Contents of applications** — Each public accounting firm shall submit, as part of its application for registration, in such detail as the Board shall specify—
(A) the names of all issuers, brokers, and dealers for which the firm prepared or issued audit reports during the immediately preceding calendar year, and for which the firm expects to prepare or issue audit reports during the current calendar year;
(B) the annual fees received by the firm from each such issuer, broker, or dealer for audit services, other accounting services, and non-audit services, respectively;
(C) such other current financial information for the most recently completed fiscal year of the firm as the Board may reasonably request;
(D) a statement of the quality control policies of the firm for its accounting and auditing practices;
(E) a list of all accountants associated with the firm who participate in or contribute to the preparation of audit reports, stating the license or certification number of each such person, as well as the State license numbers of the firm itself;
(F) information relating to criminal, civil, or administrative actions or disciplinary proceedings pending against the firm or any associated person of the firm in connection with any audit report;
(G) copies of any periodic or annual disclosure filed by an
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 7214
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Securities Exchange Act of 1934.”
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 78a
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 2331
TITLE 15—COMMERCE AND TRADE
§ 7216
(d) Reporting of sanctions
(1) Recipients
If the Board imposes a disciplinary sanction,
in accordance with this section, the Board
shall report the sanction to—
(A) the Commission;
(B) any appropriate State regulatory au-
thority or any foreign accountancy licensing
board with which such firm or person is li-
censed or certified; and
(C) the public (once any stay on the impo-
sition of such sanction has been lifted).
(2) Contents
The information reported under paragraph
(1) shall include—
(A) the name of the sanctioned person;
(B) a description of the sanction and the
basis for its imposition; and
(C) such other information as the Board
deems appropriate.
(e) Stay of sanctions
(1) In general
Application to the Commission for review,
or the institution by the Commission of re-
view, of any disciplinary action of the Board
shall operate as a stay of any such disciplinary
action, unless and until the Commission or-
ders (summarily or after notice and oppor-
tunity for hearing on the question of a stay,
which hearing may consist solely of the sub-
mission of affidavits or presentation of oral
arguments) that no such stay shall continue
to operate.
(2) Expedited procedures
The Commission shall establish for appro-
priate cases an expedited procedure for consid-
eration and determination of the question of
the duration of a stay pending review of any
disciplinary action of the Board under this
subsection.
(Pub. L. 107–204, title I, § 105, July 30, 2002, 116
Stat. 759; Pub. L. 110–289, div. A, title I, § 1161(h),
July 30, 2008, 122 Stat. 2781; Pub. L. 111–203, title
IX, §§ 929F(h), 981(b), (c), 982(f), (i), (j), July 21,
2010, 124 Stat. 1855, 1926, 1927, 1929–1931.)
Editorial Notes
REFERENCES IN TEX
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 7216
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 202
TITLE 15—COMMERCE AND TRADE
§ 78a
Sec.
78m.
Periodical and other reports.
78m–1.
Reporting and recordkeeping for certain secu-
rity-based swaps.
78m–2.
Reporting requirements regarding coal or
other mine safety.
78n.
Proxies.
78n–1.
Shareholder approval of executive compensa-
tion.
78n–2.
Corporate governance.
78o.
Registration and regulation of brokers and
dealers.
78o–1.
Brokers deemed to be registered.
78o–2.
Liabilities arising prior to amendment unaf-
fected.
78o–3.
Registered securities associations.
78o–4.
Municipal securities.
78o–4a.
Commission Office of Municipal Securities.
78o–5.
Government securities brokers and dealers.
78o–6.
Securities analysts and research reports.
78o–7.
Registration of nationally recognized statis-
tical rating organizations.
78o–8.
Universal ratings symbols.
78o–9.
Study and rulemaking on assigned credit rat-
ings.
78o–10.
Registration and regulation of security-based
swap dealers and major security-based swap
participants.
78o–11.
Credit risk retention.
78p.
Directors,
officers,
and
principal
stock-
holders.
78q.
Records and reports.
78q–1.
National system for clearance and settlement
of securities transactions.
78q–2.
Automated quotation systems for penny
stocks.
78r.
Liability for misleading statements.
78s.
Registration, responsibilities, and oversight
of self-regulatory organizations.
78t.
Liability of controlling persons and persons
who aid and abet violations.
78t–1.
Liability to contemporaneous traders for in-
sider trading.
78u.
Investigations and actions.
78u–1.
Civil penalties for insider trading.
78u–2.
Civil remedies in administrative proceedings.
78u–3.
Cease-and-desist proceedings.
78u–4.
Private securities litigation.
78u–5.
Applic
Source: Supplied 2024 U.S. Code historical extraction · 15 U.S.C. § 78a
Stored review status: historical_2024_not_currentness_verified. The source passage cites 15 U.S.C. § 78a. This identifies an authority to review, not proof of applicability.