summary
Introduced
03/03/2021
03/03/2021
In Committee
03/03/2021
03/03/2021
Crossed Over
Passed
Dead
01/03/2023
01/03/2023
Introduced Session
117th Congress
Bill Summary
A BILL To prohibit the trading of the securities of certain Com- munist Chinese military companies on a national securi- ties exchange, and for other purposes.
AI Summary
This bill, the American Financial Markets Integrity and Security Act, prohibits the trading of securities issued by certain Communist Chinese military companies on national securities exchanges. It also amends the Investment Company Act of 1940 to prohibit investment companies from investing in these covered entities. The bill restricts the use of federal funds to enter into contracts with these covered entities, requires annual compliance certifications from insurance companies regarding investments in these entities, and prohibits qualified retirement plans and individual retirement accounts from investing in these entities. Additionally, the bill modifies the requirements for the list of Communist Chinese military companies and directs an analysis of the Chinese government's financial ambitions and how the inclusion of Chinese entities in US markets may assist those ambitions.
Committee Categories
Budget and Finance
Sponsors (7)
Marco Rubio (R)*,
Mike Braun (R),
Tom Cotton (R),
John Neely Kennedy (R),
Ben Sasse (R),
Rick Scott (R),
Todd Young (R),
Last Action
Read twice and referred to the Committee on Finance. (on 03/03/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.congress.gov/bill/117th-congress/senate-bill/570/all-info |
| BillText | https://www.congress.gov/117/bills/s570/BILLS-117s570is.pdf |
| Bill | https://www.congress.gov/117/bills/s570/BILLS-117s570is.pdf.pdf |
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