I'm breaking this out to specific points.

"I intend to offer the Omnibus Corporate Responsibility and Restoration Act that gets rid of insider trading,
Already illegal.

that provides us a firewall between accounting firms that consult and do accounting,
Ummm, clarification? I could see between auditors and people doing the accounting. But I thought that was already in place.

that protect the pension plans of this nation
How?

and protect employees who can be taken advantage of by a company filing bankruptcy," said Jackson-Lee.
By the time the company files for bankruptcy, the employees have already been fucked.

DeFazio advocates "real protection" for stockholders, employees and pension funds.
The only "protection" possible is enforcing accouting practices.