SEC Issues Interim Rule on Requirements Related to the Holding Foreign Companies Accountable Act

The SEC has issued an interim rule, Holding Foreign Companies Accountable Act Disclosure. The interim rule will “apply to registrants that the Commission identifies as having filed an annual report on Forms 10-K, 20-F, 40-F or N-CSR with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction and that the Public Company Accounting Oversight Board (PCAOB) has determined it is unable to inspect or investigate completely because of a position taken by an authority in that jurisdiction.”

For more information, see the press release on the SEC’s Web site.