American Financial Markets Integrity and Security Act

Senate Bill 570 - American Financial Markets Integrity and Security Act: Overview, Status, and Impact

Hozzl · 2023-01-11T13:47:49Z

Explore the details of Senate Bill 570 American Financial Markets Integrity and Security Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Finance and Financial Sector. Stay informed on legislative developments.

1/11/2023, 1:47 PM

Congressional Summary of S 570

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.

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Current Status of Bill S 570

Bill S 570 is currently in the status of Bill Introduced since March 3, 2021. Bill S 570 was introduced during Congress 117 and was introduced to the Senate on March 3, 2021. Bill S 570's most recent activity was Read twice and referred to the Committee on Finance. as of March 3, 2021

Bipartisan Support of Bill S 570

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 570

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

- 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

Alternate Title(s) of Bill S 570

American Financial Markets Integrity and Security Act

A bill to prohibit the trading of the securities of certain Communist Chinese military companies on a national securities exchange, and for other purposes.

American Financial Markets Integrity and Security Act