HR 180 RFS
(9) Denver, Colorado, Los Angeles, California, 
Miami Beach, Florida, New Haven, Connecticut, 
Newton, Massachusetts, Philadelphia, Pennsylvania, 
Pittsburgh, Pennsylvania, Providence, Rhode Island, 
and San Francisco, California have passed legisla-
tion mandating divestment of city funds from com-
panies that conduct business operations in Sudan. 
(10) American University, Amherst College, An-
dover Newton Theological School, Boston University, 
Bowdoin College, Brandeis University, Brown Uni-
versity, Colby College, Columbia University, Con-
necticut College, Cornell University, Dartmouth Col-
lege, Drew University, Duke University, Emory Uni-
versity, Hampton University, Harvard University, 
Hendrix College, Howard University, Lee University, 
Massachusetts Institute of Technology, Middlebury 
College, Nazareth College, Northwestern University, 
Oberlin College, Queen’s University, Reconstruc-
tionist 
Rabbinical 
College, 
Regis 
University, 
Samford University, Seton Hall, Smith College, 
Stanford University, Swarthmore College, Trinity 
College, University of California, University of Colo-
rado, University of Connecticut, University of Den-
ver, University of Illinois, University of Maryland, 
University of Massachusetts, University of Min-
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nesota, University of Pennsylvania, University of 
Rochester, University of Southern California, Uni-
versity of Vermont, University of Virginia, Univer-
sity of Washington, University of Wisconsin System, 
Vassar College, Wellesley College, Wheaton College, 
Williams College, and Yale University have divested 
their funds from or placed restrictions on investment 
of their funds in certain companies that conduct 
business operations in Sudan. 
(11) Divestment has proven effective in similar 
situations, as in 1986, when State pension funds 
and university endowments were divested from com-
panies that conducted business operations in South 
Africa, which was critical to ending apartheid in that 
country, and by 1994, when the first free elections 
in South Africa took place, a substantial number of 
States, counties, cities, universities, and colleges in 
the United States had adopted partial or total di-
vestment policies. 
(12) Economic pressure against the Govern-
ment of Sudan has been effective in pushing Sudan 
to 
cooperate 
with 
the 
United 
States 
on 
counterterrorism efforts and in part in agreeing to 
negotiations with the Sudan People’s Liberation 
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Army of South Sudan which resulted in the Com-
prehensive Peace Agreement of 2005. 
(13) Congress acknowledges that divestment 
should be used sparingly and under extraordinary 
circumstances. This Act is based on unique cir-
cumstances, specifically, the reprehensible and ab-
horrent genocide occurring in Sudan. 
(14) The business operations of companies in 
countries that perpetrate grave abuses of human 
rights, especially the uniquely monstrous crime of 
genocide, are of concern to many United States in-
vestors and citizens even when these operations rep-
resent a small fraction of a company’s total busi-
ness. 
(15) State and city pension funds have rou-
tinely but unsuccessfully sought to acquire and uti-
lize data from the Federal Government on compa-
nies for investment decisions. 
(16) There is an increasing interest by States, 
local governments, educational institutions, and pri-
vate institutions to seek to disassociate themselves 
from companies that support the Government of 
Sudan. 
(17) Policy makers and fund managers may 
find moral, prudential, or reputational reasons to di-
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vest from companies that accept the business risk of 
operating in countries that are subject to inter-
national economic sanctions or that have business 
relationships with countries, governments, or entities 
with which any United States company would be 
prohibited from dealing because of economic sanc-
tions imposed by the United States. 
(18) The world community has a moral obliga-
tion to work to do everything possible to stop the on-
going genocidal practices of the Government of 
Sudan in the Darfur region. 
SEC. 3. TRANSPARENCY IN CAPITAL MARKETS. 
(a) LIST OF PERSONS DIRECTLY INVESTING IN OR 
CONDUCTING BUSINESS OPERATIONS IN CERTAIN SUDA-
NESE SECTORS.— 
(1) PUBLICATION OF LIST.—Not later than 6 
months after the date of the enactment of this Act 
and every 6 months thereafter, the Secretary of the 
Treasury, in consultation with the Secretary of En-
ergy, the Secretary of State, the Securities and Ex-
change Commission, and the heads of other appro-
priate Federal departments and agencies, shall, 
using only publicly available (including proprietary) 
information, ensure publication in the Federal Reg-
ister of a list of each person, whether within or out-
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side of the United States, that, as of the date of the 
publication, has a direct investment in, or is con-
ducting, business operations in Sudan’s power pro-
duction, mineral extraction, oil-related, or military 
equipment industries, subject to paragraph (2). To 
the extent practicable, the list shall include a de-
scription of the investment made by each such per-
son, including the dollar value, intended purpose, 
and status of the investment, as of the date of the 
publication. 
(2) EXCEPTIONS.—The Secretary of the Treas-
ury shall exclude a person from the list if all of the 
business operations by reason of which the person 
would otherwise be included on the list— 
(A) are conducted under contract directly 
and exclusively with the regional government of 
southern Sudan; 
(B) are conducted under a license from the 
Office of Foreign Assets Control, or are ex-
pressly exempted under Federal law from the 
requirement to be conducted under such a li-
cense; 
(C) consist of providing goods or services 
to marginalized populations of Sudan; 
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