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Countering Corporate Corruption in China Act of 2022

12/30/2022, 4:48 AM

Congressional Summary of S 3584

Countering Corporate Corruption in China Act of 2022

This bill expands the activity prohibited under the Foreign Corrupt Practices Act (FCPA) applicable to issuers of securities, domestic concerns, and others. (The FCPA generally prohibits bribes to foreign officials.)

For example, the bill includes as prohibited corrupt practices

  • certain activity supporting human rights abuses by China against Uyghurs, Kazakhs, and members of other predominately Muslim ethnic groups;
  • certain activity supporting censorship or human rights abuses by China with respect to individuals in Hong Kong;
  • supporting certain territorial claims by China;
  • political advocacy in favor of the Chinese Communist Party; and
  • investing in specified Chinese entities.

Read the Full Bill

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Current Status of Bill S 3584

Bill S 3584 is currently in the status of Bill Introduced since February 3, 2022. Bill S 3584 was introduced during Congress 117 and was introduced to the Senate on February 3, 2022.  Bill S 3584's most recent activity was Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. as of February 3, 2022

Bipartisan Support of Bill S 3584

Total Number of Sponsors
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 3584

Primary Policy Focus

Finance and Financial Sector

Alternate Title(s) of Bill S 3584

Countering Corporate Corruption in China Act of 2022
Countering Corporate Corruption in China Act of 2022
A bill to amend the Securities Exchange Act of 1934 to address corrupt practices of the Government of the People's Republic of China, and for other purposes.

Comments

Sponsors and Cosponsors of S 3584

Marco Rubio
Marco Rubio
FloridaRepublican

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