U.S. Congress legislation · 119th Congress
HB10477: Small Business Audit Correction Act of 2026
Status: In committee, September 17, 2026
To amend the Sarbanes-Oxley Act of 2002 to 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, and for other purposes.
What the bill says
To amend the Sarbanes-Oxley Act of 2002 to 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, and for other purposes.
From the introduced text, September 17, 2026:
A BILL To amend the Sarbanes-Oxley Act of 2002 to 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, and for other purposes. SECTION 1. Short title This Act may be cited as the Small Business Audit Correction Act of 2026 . SECTION 2. Exemption (a) Amendments to the Sarbanes-Oxley Act of 2002 Section 110 of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7220 ) is amended-- (1) in paragraph (3), by inserting , except that the term does not include a non-carrying broker or dealer that is privately held and in good standing after registered public accounting firm ; (2) in paragraph (4), by inserting , except that the term does not include a non-carrying broker or dealer that is privately held and in good standing after registered public accounting firm ; (3) by redesignating paragraphs (5) and (6) as paragraphs (8) and (9), respectively; and (4) by inserting after paragraph (4) the following: (5) In good standing The term in good standing means, with respect to a broker or dealer (as those terms are defined in section 3(a) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78c(a) )), that, as of the last day of the most recently completed fiscal …
Sponsors
- French Hill (R, HD-AR-2) · primary sponsor
- Garland Barr (R, HD-KY-6)
Latest actions
- : Referred to the House Committee on Financial Services.
- : Introduced in House
Subjects: Finance and Financial Sector
Common questions
- What is HB10477?
- HB10477 is a bill in Congress (119th Congress): Small Business Audit Correction Act of 2026.
- What does HB10477 do?
- In its own words: To amend the Sarbanes-Oxley Act of 2002 to 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, and for other purposes.
- What is the status of HB10477?
- In committee as of September 17, 2026. Latest action: Referred to the House Committee on Financial Services. (September 17, 2026).
- Who sponsored HB10477?
- French Hill (R, HD-AR-2), with 1 co-sponsor.
- Where is the official record for HB10477?
- On the Congress website: https://www.congress.gov/bill/119th-congress/house-bill/10477
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.