No Chinese Communist SURPRISE Parties Act

Hozzl · 2024-01-18T09:00:21Z

Explore the details of House Bill 747 No Chinese Communist SURPRISE Parties 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.

1/18/2024, 9:00 AM

Congressional Summary of HR 747

No Chinese Communist Subterfuge via Unregistered Regime Presence Rendered Invisible to Shareholders and Equivalent Parties Act or the No Chinese Communist SURPRISE Parties Act

This bill requires issuers of securities to annually disclose whether the issuer has established or maintained an organization of the Chinese Communist Party, if an organization of the Chinese Communist Party has participated in the operations of the issuer, and whether the issuer's board of directors (1) owes a fiduciary duty to the issuer and shareholders, and (2) is subject to heightened scrutiny with respect to conflicted controller transactions.

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Current Status of Bill HR 747

Bill HR 747 is currently in the status of Bill Introduced since February 2, 2023. Bill HR 747 was introduced during Congress 118 and was introduced to the House on February 2, 2023. Bill HR 747's most recent activity was Referred to the House Committee on Financial Services. as of February 2, 2023

Bipartisan Support of Bill HR 747

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 HR 747

Primary Policy Focus

Finance and Financial Sector

Potential Impact Areas

AsiaChinaSecuritiesU.S. and foreign investments

Alternate Title(s) of Bill HR 747

No Chinese Communist SURPRISE Parties ActNo Chinese Communist SURPRISE Parties ActNo Chinese Communist Subterfuge via Unregistered Regime Presence Rendered Invisible to Shareholders and Equivalent Parties ActTo require issuers filing annual reports with the Securities and Exchange Commission to disclose whether the issuers have connections with the Chinese Communist Party, and for other purposes.

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