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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. 12 USC 5332.
(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.— Records.
(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

LAWS retain copies of such books, accounts, and other records, access to which is granted under this section, as the Comptroller General considers appropriate.PUBLIC with on anorris VerDate Nov 24 2008 00:54 Jul 29, 2010 Jkt 089139 PO 00203 Frm 00037 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 GPO1 PsN: PUBL203