Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This bill amends Section 6(b) of the Securities Exchange Act of 1934 to require exchanges to impose issuer disclosure obligations for securities listed by entities tied to the People’s Republic of China.
Required disclosures, before initial listing and in each annual 13(a) report, include whether the PRC provided financial support, the conditions of that support, whether Chinese Communist Party (CCP) committees exist within the issuer, and whether officers or directors hold or held CCP or PRC government positions.
The Securities and Exchange Commission must update its rules within 180 days of enactment to implement these requirements.
Technocratic disclosure bill with limited fiscal impact but politically charged subject and likely industry/legal resistance reduce standalone passage odds.
Relative to its intended legislative type, this bill establishes specific, mandatory disclosure obligations by amending Section 6(b) of the Securities Exchange Act and sets a short timeline for SEC rule changes, but it omits critical definitional, enforcement, and resourcing details needed to operationalize those obligations across varied issuer structures.
Progressives emphasize civil-rights and privacy risks from disclosures
Progressives emphasize civil-rights and privacy risks from disclosures
Likely supportive of stronger transparency about authoritarian-state influence in U.S. markets, as it advances investor protection and human-rights accountability.
However, concerned about potential racial profiling, unintended harm to ordinary workers, market disruption, and overreach without safeguards for privacy and non-discrimination.
Would want clear protections for whistleblowers and narrowly tailored implementation to avoid collateral harms.
Likely cautiously favorable because the bill aims at investor protection and national-security transparency.
Will focus on implementation details, costs, and market stability to avoid unintended consequences.
Seeks pragmatic, narrowly tailored rules with phased compliance and clear definitions.
Likely strongly supportive as a tool to expose and limit CCP influence in U.S. capital markets.
Views the bill as necessary for national security, economic sovereignty, and protecting American investors from hidden state-directed risks.
May push for even stricter measures if disclosures reveal substantial PRC control.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Technocratic disclosure bill with limited fiscal impact but politically charged subject and likely industry/legal resistance reduce standalone passage odds.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize civil-rights and privacy risks from disclosures
Technocratic disclosure bill with limited fiscal impact but politically charged subject and likely industry/legal resistance reduce standal…
Relative to its intended legislative type, this bill establishes specific, mandatory disclosure obligations by amending Section 6(b) of the Securities Exchange Act and sets a short timeline for SEC rule changes, but it…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.