American Financial Markets Integrity and Security Act

1/11/2023, 1:47 PM

American Financial Markets Integrity and Security Act

This bill 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.

Congress
117

Number
S - 570

Introduced on
2021-03-03

# Amendments
0

Sponsors
+5

Cosponsors
+5

Variations and Revisions

3/3/2021

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

American Financial Markets Integrity and Security Act

This bill 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.

Alternative Names
Official Title as IntroducedA bill to prohibit the trading of the securities of certain Communist Chinese military companies on a national securities exchange, and for other purposes.

Policy Areas
Finance and Financial Sector

Potential Impact
Asia
China
Congressional oversight
Corporate finance and management
Employee benefits and pensions
Financial services and investments
Foreign and international corporations
Government studies and investigations
Income tax deferral
Insurance industry and regulation
Intelligence activities, surveillance, classified information
International monetary system and foreign exchange
Military civil functions
Military procurement, research, weapons development
Securities
U.S. and foreign investments

Comments

Recent Activity

Latest Summary4/15/2021

American Financial Markets Integrity and Security Act

This bill generally prohibits investments in certain Chinese military companies and entities reasonably believed to be involved in activities contrary to the national security o...


Latest Action3/3/2021
Read twice and referred to the Committee on Finance.