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US S4872

US S4872
American Financial Markets Integrity and Security Act


summary

Introduced
10/26/2020
In Committee
10/26/2020
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

116th Congress

Bill Summary

Generally prohibits investments in certain Chinese military companies and entities reasonably believed to be involved in activities contrary to the national security or foreign policy interests of the United States. These entities may not sell securities to U.S. markets. Investment companies, insurance companies, and retirement plans are prohibited from investing in these entities. The bill also prohibits the use of federal funds to enter into or renew a contract with these entities. Furthermore, the Department of Commerce and the Office of the Director of National Intelligence—in addition to the Department of Defense as under current law—are allowed to add entities to the list of Chinese military companies.

AI Summary

This bill, the American Financial Markets Integrity and Security Act, generally prohibits investments in certain Chinese military companies and entities that are reasonably believed to be involved in activities contrary to U.S. national security or foreign policy interests. These entities would be prohibited from selling securities in U.S. markets, and investment companies, insurance companies, and retirement plans would be prohibited from investing in them. The bill also prohibits the use of federal funds to contract with these entities, except for a national security waiver. Additionally, the bill expands the list of Chinese military companies that can be identified by the Department of Commerce and the Office of the Director of National Intelligence, in addition to the Department of Defense.

Committee Categories

Budget and Finance

Sponsors (2)

Last Action

Read twice and referred to the Committee on Finance. (on 10/26/2020)

bill text


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