I 
116TH CONGRESS 
2D SESSION 
H. R. 8407 
To require the Securities and Exchange Commission to assess whether the 
disclosure of information related to investments in certain entities is 
necessary or appropriate for the purposes of certain reports under the 
securities laws, to establish the Entities of the People’s Republic of 
China that Threaten United States National Security List, and for other 
purposes. 
IN THE HOUSE OF REPRESENTATIVES 
SEPTEMBER 29, 2020 
Mr. RESCHENTHALER (for himself, Mr. MCCAUL, and Mr. RIGGLEMAN) intro-
duced the following bill; which was referred to the Committee on Finan-
cial Services, and in addition to the Committee on Foreign Affairs, for 
a period to be subsequently determined by the Speaker, in each case for 
consideration of such provisions as fall within the jurisdiction of the com-
mittee concerned 
A BILL 
To require the Securities and Exchange Commission to as-
sess whether the disclosure of information related to 
investments in certain entities is necessary or appropriate 
for the purposes of certain reports under the securities 
laws, to establish the Entities of the People’s Republic 
of China that Threaten United States National Security 
List, and for other purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
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SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Protecting National 
Security in Financial Investments Act’’. 
SEC. 2. ASSESSMENT OF INFORMATION WITH RESPECT TO 
INVESTMENTS IN CERTAIN ENTITIES. 
(a) IN GENERAL.—Not later than 360 days following 
the date of the enactment of this Act, the Securities and 
Exchange Commission, in consultation with the Secretary 
of the Treasury, shall submit to the Committee on Finan-
cial Services of the House of Representatives and the 
Committee on Banking, Housing, and Urban Affairs of 
the Senate a report assessing whether disclosure of invest-
ments in entities on the entity list by an issuer qualifies 
as necessary or appropriate for the purposes of section 
13(a) of the Securities Exchange Act of 1934. 
(b) RULEMAKING.—Not later than 180 days fol-
lowing submission of the report required under subsection 
(a), the Securities and Exchange Commission shall pre-
scribe regulations requiring an issuer to disclose in any 
annual report required under section 13 of the Securities 
Exchange Act of 1934, and in any prospectus in connec-
tion with an initial public offering, the information as-
sessed by the Commission in such report to be necessary 
or appropriate for the purposes of subsection (a) of such 
section 13. 
(c) DEFINITIONS.—In this section: 
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(1) ENTITY
LIST.—The term ‘‘entity list’’ 
means the list maintained by the Bureau of Industry 
and Security of the Department of Commerce and 
set forth in Supplement No. 4 to part 744 of the 
Export Administration Regulations. 
(2) EXPORT ADMINISTRATION REGULATIONS.— 
The term ‘‘Export Administration Regulations’’ 
means subchapter C of chapter VII of title 15, Code 
of Federal Regulations. 
SEC. 3. ENTITIES OF THE PEOPLE’S REPUBLIC OF CHINA 
THAT THREATEN UNITED STATES NATIONAL 
SECURITY LIST. 
(a) IN GENERAL.—Not later than one year after the 
date of the enactment of this Act, and annually thereafter, 
the Secretary of State, in consultation with the Director 
of National Intelligence, the Secretary of Defense, and the 
Secretary of Commerce, shall submit to the Congress a 
list of— 
(1) each entity of the People’s Republic of 
China associated with the People’s Liberation Army, 
the Chinese People’s Armed Police Force, the Min-
istry of State Security, or the China Coast Guard, 
including any entity that— 
(A) is a listed military supplier; 
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