124 STAT. 1411 PUBLIC LAW 111–203—JULY 21, 2010 receipt of the request) and place at which such company may appear, personally or through counsel, to submit written mate- rials (or, at the discretion of the Board of Governors, in con- sultation with the Council, oral testimony and oral argument). (3) DECISION.—Not later than 60 days after the date of a hearing under paragraph (2), or not later than 60 days after the provision of a notice under paragraph (1) if no hearing was held, the Board of Governors shall notify the company of the final decision of the Board of Governors, including the results of the vote of the Council, as described in subsection (a). (c) FACTORS FOR CONSIDERATION.—The Board of Governors and the Council shall take into consideration the factors set forth in subsection (a) or (b) of section 113, as applicable, in making any determination under subsection (a). (d) APPLICATION TO FOREIGN FINANCIAL COMPANIES.—The Board of Governors may prescribe regulations regarding the applica- tion of this section to foreign nonbank financial companies super- vised by the Board of Governors and foreign-based bank holding companies— (1) giving due regard to the principle of national treatment and equality of competitive opportunity; and (2) taking into account the extent to which the foreign nonbank financial company or foreign-based bank holding com- pany is subject on a consolidated basis to home country stand- ards that are comparable to those applied to financial compa- nies in the United States. SEC. 122. GAO AUDIT OF COUNCIL. (a) AUTHORITY TO AUDIT.—The Comptroller General of the United States may audit the activities of— (1) the Council; and (2) any person or entity acting on behalf of or under the authority of the Council, to the extent that such activities relate to work for the Council by such person or entity. (b) ACCESS TO INFORMATION.— (1) IN GENERAL.—Notwithstanding any other provision of law, the Comptroller General shall, upon request and at such reasonable time and in such reasonable form as the Comptroller General may request, have access to— (A) any records or other information under the control of or used by the Council; (B) any records or other information under the control of a person or entity acting on behalf of or under the authority of the Council, to the extent that such records or other information is relevant to an audit under sub- section (a); and (C) the officers, directors, employees, financial advisors, staff, working groups, and agents and representatives of the Council (as related to the activities on behalf of the Council of such agent or representative), at such reasonable times as the Comptroller General may request. (2) COPIES.—The Comptroller General may make and retain copies of such books, accounts, and other records, access to which is granted under this section, as the Comptroller General considers appropriate. Records. 12 USC 5332.
