1. Short title This Act may be cited as the Cage the Paper Tiger Act of 2020 . 2. Prohibition against the listing of certain firms on national securities exchanges (a) In general Section 6(b) of the Securities Exchange Act of 1934 ( 15 U.S.C. 78f(b) ) is amended by adding at the end the following: (11) (A) The rules of the exchange prohibit the initial listing, after the date of enactment of this paragraph, of any security of an issuer if the registration statement filed with the Commission for such security includes an audit report prepared by a covered foreign public accounting firm. (B) Nothing in subparagraph (A) may be construed to prevent an exchange from listing a security on the exchange on or after the date of enactment of this paragraph if that security was listed on the exchange or a national securities exchange before the date of enactment of this paragraph. (C) In this paragraph— (i) the term audit report has the meaning given the term in section 2(a) of the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7201(a) ); (ii) the term covered foreign public accounting firm means a foreign public accounting firm that the Public Company Accounting Oversight Board is unable to inspect or investigate under the Sarbanes-Oxley Act of 2002 ( 15 U.S.C. 7201 et seq.) because of a position taken by an authority outside of the United States