118th Congress · SENATE BILLBILL

S. 151 — Countering Corporate Corruption in China Act of 2023

“A bill to amend the Securities Exchange Act of 1934 to address corrupt practices of the Government of the People's Republic of China, and for other purposes.”

Finance and financial sector

Introduced Jan 30, 2023

Last action Jan 30, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jan 30, 2023

Step 2

Referred

Jan 30, 2023

Banking, Housing, and Urban Affairs

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill expands the activity prohibited under the Foreign Corrupt Practices Act (FCPA) applicable to issuers of securities, domestic concerns, and others. (The FCPA generally prohibits bribes to foreign officials.) For example, the bill includes as prohibited corrupt practices certain activity supporting human rights abuses by China against Uyghurs, Kazakhs, and members of other predominately Muslim ethnic groups; certain activity supporting censorship or human rights abuses by China with respect to individuals in Hong Kong; supporting certain territorial claims by China; political advocacy in favor of the Chinese Communist Party; and investing in specified Chinese entities.

Provisions · 3 sectionsIntroduced in Senate

Timeline · 2 actions

Jan 30, 2023

Introduced in Senate

Jan 30, 2023

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.