‘‘(BB) the issuer of se-
curities was located; or 
‘‘(CC) the investment 
advice was provided; and 
‘‘(cc) records, data, and in-
formation related to such offers, 
purchases, and sales have been 
maintained. 
‘‘(III) EFFECT
OF
NONCOMPLI-
ANCE.—If a regional center, through 
its due diligence, discovered during 
the previous fiscal year that the re-
gional center or any party associated 
with the regional center was not in 
compliance with the securities laws of 
the United States or the securities 
laws of any State in which the securi-
ties activities were conducted by any 
party associated with the regional cen-
ter, the certifier shall— 
‘‘(aa) describe the activities 
that led to noncompliance; 
‘‘(bb) describe the actions 
taken to remedy the noncompli-
ance; and 
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‘‘(cc) certify that the re-
gional center and all parties asso-
ciated with the regional center 
are currently in compliance, to 
the best of the certifier’s knowl-
edge, after a due diligence inves-
tigation. 
‘‘(iii) OVERSIGHT
REQUIRED.—Each 
regional center shall— 
‘‘(I) use commercially reasonable 
efforts to monitor and supervise com-
pliance with the securities laws in re-
lations to all offers, purchases, and 
sales of, and investment advice relat-
ing to, securities made by parties as-
sociated with the regional center; 
‘‘(II) maintain records, data, and 
information relating to all such offers, 
purchases, sales, and investment ad-
vice during the 5-year period begin-
ning on the date of their creation; and 
‘‘(III) make the records, data, 
and information described in sub-
clause (II) available to the Secretary 
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or to the Securities and Exchange 
Commission upon request. 
‘‘(iv) 
SUSPENSION
OR
TERMI-
NATION.—In addition to any other author-
ity provided to the Secretary under this 
paragraph, the Secretary, in the Sec-
retary’s discretion, may suspend or termi-
nate the designation of any regional center 
or impose other sanctions against the re-
gional center if the regional center, or any 
parties associated with the regional center 
that the regional center knew or reason-
ably should have known— 
‘‘(I) are permanently or tempo-
rarily enjoined by order, judgment, or 
decree of any court of competent ju-
risdiction in connection with the offer, 
purchase, or sale of a security or the 
provision of investment advice; 
‘‘(II) are subject to any final 
order of the Securities and Exchange 
Commission or a State securities reg-
ulator that— 
‘‘(aa) bars such person from 
association with an entity regu-
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lated by the Securities and Ex-
change Commission or a State 
securities regulator; or 
‘‘(bb) constitutes a final 
order based on a finding of an in-
tentional violation or a violation 
related to fraud or deceit in con-
nection with the offer, purchase, 
or sale of, or investment advice 
relating to, a security; or 
‘‘(III) submitted, or caused to be 
submitted, a certification described in 
clause (ii) that contained an untrue 
statement of a material fact or omit-
ted to state a material fact necessary 
in order to make the statements 
made, in light of the circumstances 
under which they were made, not mis-
leading. 
‘‘(v) DEFINED
TERM.—In this sub-
paragraph, the term ‘parties associated 
with a regional center’ means— 
‘‘(I) the regional center; 
‘‘(II) any new commercial enter-
prise or affiliated job-creating entity 
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pbinns on DSKJLVW7X2PROD with BILLS
or issuer of securities associated with 
the regional center; 
‘‘(III) the regional center’s and 
new commercial enterprise’s owners, 
officers, directors, managers, partners, 
agents, employees, promoters and at-
torneys, or similar position, as deter-
mined by the Secretary; and 
‘‘(IV) any person under the con-
trol of the regional center, new com-
mercial enterprise, or issuer of securi-
ties associated with the regional cen-
ter who is responsible for the mar-
keting, offering, or sale of any secu-
rity offered in connection with the 
capital investment project. 
‘‘(vi) SAVINGS
PROVISION.—Nothing 
in this subparagraph may be construed to 
impair or limit the authority of the Securi-
ties and Exchange Commission under the 
Federal securities laws or any State securi-
ties regulator under State securities laws. 
‘‘(J) EB–5 INTEGRITY FUND.— 
‘‘(i) ESTABLISHMENT.—There is es-
tablished in the United States Treasury a 
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special fund, which shall be known as the 
‘EB–5 Integrity Fund’ (referred to in this 
subparagraph as the ‘Fund’). Amounts de-
posited into the Fund shall be available to 
the Secretary of Homeland Security until 
expended for the purposes set forth in 
clause (iii). 
‘‘(ii) FEES.— 
‘‘(I) ANNUAL FEE.—On October 
1, 2021, and each October 1 there-
after, the Secretary of Homeland Se-
curity shall collect for the Fund an 
annual fee— 
‘‘(aa) except as provided in 
item (bb), of $20,000 from each 
regional center designated under 
subparagraph (E); and 
‘‘(bb) of $10,000 from each 
such regional center with 20 or 
fewer total investors in the pre-
ceding fiscal year in its new com-
mercial enterprises. 
‘‘(II) PETITION FEE.—Beginning 
on October 1, 2021, the Secretary 
shall collect a fee of $1,000 for the 
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