“A bill to amend the Securities Exchange Act of 1934 to address the issuance of securities by Chinese entities, and for other purposes.”
No CRS summary available for this bill.
This section amends the Securities Exchange Act of 1934 by adding a new requirement for Securities and Exchange Commission (SEC) registration of a national securities exchange, mandating that exchange rules require an issuer—prior to initial listing of any security and in each annual report filed with the SEC and exchange under Section 13(a)—to disclose (1) whether the Government of the People's Republic of China provided financial support (e.g., subsidies, grants, loans, tax concessions), (2) conditions of such support (e.g., export requirements, purchases from specified entities, use of certain intellectual property, or employment of Chinese Communist Party members or government employees), (3) any Chinese Communist Party committees within the issuer (including member employees and their roles), and (4) positions held by officers or directors (or subsidiaries) with the Chinese Communist Party or Chinese government (including titles and locations). The section further directs the SEC to amend its rules as necessary within 180 days of enactment.