118th Congress · HOUSE BILLBILL

H.R. 499SAFE from PRC Investments Act

To amend the Securities Exchange Act of 1934 to require certain additional annual disclosures by public companies and exchange-traded funds investing in companies with ties to the People's Republic of China, and for other purposes.

Finance and financial sector
Introduced Jan 25, 2023
Last action Jan 25, 2023
Pipeline · Bill → Law
Step 1
Introduced
Jan 25, 2023
Step 2
Referred
Jan 25, 2023
Financial Services
Step 3
Committee
Step 4
House floor
Step 5
Senate
Step 6
Resolve Changes
Step 7
Signed
SummaryCRS Summary

This bill requires certain issuers of securities and funds traded on an exchange to report on connections to China or the Communist Party of China. In particular, an issuer with specified connections to China must annually disclose a variety of details, including whether executive-level employees, senior directors, or board members are members of the Communist Party of China; interactions with the party; expenditures in China; expenditures in the United States regarding operations and lobbying activities; and the ability of the Public Company Accounting Oversight Board to audit the issuer. Additionally, an exchange-traded fund that invests in a Chinese company must annually disclose about...

Provisions · 3 sectionsIntroduced in House
Timeline · 2 actions
Jan 25, 2023
Introduced in House
Jan 25, 2023
Referred to the House Committee on Financial Services.