AMENDMENT NO. 406 Offered by Mr. Zeldin of New York

Floor Speech

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Mr. SHERMAN. Mr. Speaker, four amendments, the first delists from U.S. stock exchanges companies where a substantial portion of the audit is not subject to normal oversight by the PCAOB. This is not an anti- China amendment, though it will affect companies in China and Belgium.

As chair of the Investor Protection Subcommittee and co-chair of the CPA and Accountants Caucus, it is critical that investors on U.S. stock exchanges have the additional protection that is provided by the PCAOB, and that should apply to companies in China just as it does to companies in Britain, the United States, Canada, et cetera.

The second amendment is to prevent a nuclear cooperation agreement from being entered into with a country that fails to sign the additional protocol, which is designed to make sure that their nuclear technology is used only for peaceful purposes. This is aimed at Saudi Arabia, whose Crown Prince has broadly hinted a desire for nuclear weapons.

I join with Mr. Pallone in an amendment that is aimed at Azerbaijani military units that have committed gross human rights violations, and I join with Mr. Malinowski in an amendment that is language from my manager's amendment to the Uyghur Human Rights Policy Act, which passed this House, and that language would prevent U.S. technology from being used to imprison over a million Uighurs.

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