Bill > S1357

This bill, known as the SAFE Act (Secure America's Financial Exchanges Act), would require Chinese companies seeking to list securities on U.S. exchanges to disclose detailed information about their relationship with the Chinese government. Specifically, companies would need to reveal any financial support received from the People's Republic of China, including subsidies, loans, tax benefits, or procurement policy advantages. They must also describe the conditions attached to such support, such as requirements to meet export targets, purchase from specific entities, use certain intellectual property, or employ Chinese Communist Party members. Additionally, companies would have to disclose the presence and composition of Chinese Communist Party committees within their organization, and provide background on any officers or directors who currently or previously held positions in the Chinese government or Communist Party. The Securities and Exchange Commission would be required to update its rules within 180 days to implement these new disclosure requirements, which aim to increase transparency about potential governmental influence on Chinese companies trading in U.S. financial markets.

Housing and Urban Affairs

https://www.congress.gov/bill/119th-congress/senate-bill/1357/all-info