On December 23, 2022, PCAOB Chair Erica Y. Williams issued a statement applauding congressional action to shorten the Holding Foreign Companies Accountable Act’s timeline for applying trading prohibitions to non-compliant issuers from three years to two years.  Chair Williams’ statement explained that the action “created the leverage the PCAOB needed to force China to open the books for the first time in history.”  Chair Williams’ statement is available here.