PRC Broker-Dealers and Investment Advisers Moratorium Act

This bill would bar brokers, dealers, and investment advisers from registering with the Securities and Exchange Commission if they are organized under Chinese law or controlled by a Chinese entity or by a Chinese national living in China. Control means owning more than 15 percent of a company's voting securities, directly or through other companies. The ban would also apply if a related company organized under Chinese law provides certain services, such as software, network, platform, product development, or customer service. These prohibitions would end 5 years after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Michael Lawler Republican sponsor
• 1 cosponsors