I 
112TH CONGRESS 
1ST SESSION 
H. R. 740 
To require disclosure to the Securities and Exchange Commission of certain 
sanctionable activities, and for other purposes. 
IN THE HOUSE OF REPRESENTATIVES 
FEBRUARY 16, 2011 
Mr. DEUTCH (for himself and Mr. BURTON of Indiana) introduced the 
following bill; which was referred to the Committee on Financial Services 
A BILL 
To require disclosure to the Securities and Exchange Com-
mission of certain sanctionable activities, and for other 
purposes. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘Iran Transparency and 
Accountability Act of 2011’’. 
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SEC. 2. DISCLOSURES TO THE SECURITIES AND EXCHANGE 
COMMISSION RELATING TO SANCTIONABLE 
ACTIVITIES. 
(a) IN GENERAL.—Section 13 of the Securities Ex-
change Act of 1934 (15 U.S.C. 78m) is amended by add-
ing at the end the following new subsection: 
‘‘(r) DISCLOSURE OF CERTAIN ACTIVITIES RELAT-
ING TO IRAN, TERRORISM, AND THE PROLIFERATION OF 
WEAPONS OF MASS DESTRUCTION.— 
‘‘(1) GENERAL DISCLOSURE REQUIRED.—Each 
issuer required to file an annual or quarterly report 
under subsection (a) shall include with such report 
a statement of whether, during the period since the 
issuer made the last such report, the issuer or any 
affiliate of the issuer— 
‘‘(A) engaged in an activity described in 
section 5 of the Iran Sanctions Act of 1996 
(Public Law 104–172; 50 U.S.C. 1701 note); 
‘‘(B) knowingly engaged in an activity de-
scribed in subsection (c)(2) of section 104 of 
the Comprehensive Iran Sanctions, Account-
ability, and Divestment Act of 2010 (22 U.S.C. 
8513) or knowingly violated regulations pre-
scribed under subsection (d)(1) or (e)(1) of 
such section 104; or 
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‘‘(C) knowingly conducted any transaction 
or dealing with— 
‘‘(i) any person the property and in-
terests in property of which are blocked 
pursuant to Executive Order 13224 (66 
Fed. Reg. 49079; relating to blocking 
property and prohibiting transacting with 
persons who commit, threaten to commit, 
or support terrorism); 
‘‘(ii) any person the property and in-
terests in property of which are blocked 
pursuant to Executive Order 13382 (70 
Fed. Reg. 38567; relating to blocking of 
property of weapons of mass destruction 
proliferators and their supporters); or 
‘‘(iii) any person on the list contained 
in Appendix A to part 560 of title 31, 
Code of Federal Regulations (commonly 
known as the ‘Iranian Transactions Regu-
lations’). 
‘‘(2) SPECIFIC DISCLOSURE REQUIRED.—If an 
issuer reports under paragraph (1) that the issuer or 
an affiliate of the issuer has engaged in any activity 
described in that paragraph, the issuer shall include 
with the statement required under that paragraph a 
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detailed description of each such activity, includ-
ing— 
‘‘(A) the nature and extent of the activity; 
‘‘(B) the revenues and profits, if any, at-
tributable to the activity; and 
‘‘(C) whether the issuer or the affiliate of 
the issuer (as the case may be) intends to con-
tinue the activity. 
‘‘(3) INVESTIGATION OF DISCLOSURES.—When 
the Commission receives a report under paragraph 
(1) from an issuer that the issuer or an affiliate of 
the issuer has engaged in any activity described in 
that paragraph, the President shall— 
‘‘(A) initiate an investigation into the pos-
sible imposition of sanctions under the Iran 
Sanctions Act of 1996 (Public Law 104–172; 
50 U.S.C. 1701 note), section 104 of the Com-
prehensive Iran Sanctions, Accountability, and 
Divestment Act of 2010 (22 U.S.C. 8513), the 
Executive Orders or regulations specified in 
paragraph (1)(C), or any other provision of law; 
and 
‘‘(B) not later than 180 days after initi-
ating such an investigation, make a determina-
tion with respect to whether sanctions should be 
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imposed with respect to the issuer or the affil-
iate of the issuer (as the case may be). 
‘‘(4) PUBLIC DISCLOSURE OF INFORMATION.— 
The Commission shall promptly— 
‘‘(A) make the information provided to the 
Commission under paragraphs (1) and (2) 
available to the public by posting the informa-
tion on the Internet website of the Commission; 
and 
‘‘(B) provide a copy of that information 
to— 
‘‘(i) the President; 
‘‘(ii) the Committee on Foreign Af-
fairs and the Committee on Financial 
Services of the House of Representatives; 
and 
‘‘(iii) the Committee on Foreign Rela-
tions and the Committee on Banking, 
Housing, and Urban Affairs of the Senate. 
‘‘(5) SUNSET.—The provisions of this sub-
section shall terminate on the date that is 30 days 
after the date on which the President makes the cer-
tification described in section 401(a) of the Com-
prehensive Iran Sanctions, Accountability, and Di-
vestment Act of 2010 (22 U.S.C. 8551(a)).’’. 
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(b) EFFECTIVE DATE.—The amendment made by 
subsection (a) shall take effect with respect to reports re-
quired to be filed with the Securities and Exchange Com-
mission after the date that is 90 days after the date of 
the enactment of this Act. 
SEC. 3. DEADLINE FOR REGULATIONS WITH RESPECT TO 
FINANCIAL INSTITUTIONS MAINTAINING AC-
COUNTS FOR FOREIGN FINANCIAL INSTITU-
TIONS. 
Section 104(e)(1) of the Comprehensive Iran Sanc-
tions, Accountability, and Divestment Act of 2010 
(8513(e)(1)) is amended by striking ‘‘The Secretary’’ and 
inserting ‘‘Not later than 90 days after the date of the 
enactment of the Iran Transparency and Accountability 
Act of 2011, the Secretary’’. 
Æ 
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