Exclude audits for certain brokers

Summary#

This bill would change the Sarbanes-Oxley Act of 2002. It would exclude the audits of privately held, non-carrying brokers and dealers that are in good standing from certain requirements under Title I of that Act. The bill was introduced by Representative J. Hill and referred to the House Committee on Financial Services. No other details are in the provided information.

What it means for you#

• If you are a privately held, non-carrying broker or dealer that is in good standing, this bill would remove certain Title I requirements from audits of your firm.
• If you are not in that group, the provided information does not say how you would be affected.
• The bill is at an early stage (referred to committee); its final content and effects are not available from the provided material.

Expenses#

No publicly available information on costs, savings, or budgetary effects is included in the provided material.

Proponents' View#

No publicly available information on proponents' arguments or reasons for the bill is included in the provided material.

Opponents' View#

No publicly available information on opponents' arguments or reasons against the bill is included in the provided material.