ment shall be treated as acquired through a chain of 
ownership referred to in subsection (a), unless such 
pooled investment is certified by the Secretary as 
not holding any listed investments in accordance 
with subparagraph (B) of paragraph (2). 
‘‘(2) CERTIFICATIONS
OF
POOLED
FUNDS.— 
The Secretary, after consultation with the Secretary 
of the Treasury, shall establish procedures under 
which certain regulated investment companies, ex-
change traded funds, and other pooled invest-
ments— 
‘‘(A) shall be reported in accordance with 
the requirements under subsection (b); and 
‘‘(B) may be certified by the Secretary as 
not holding any listed investments. 
‘‘(d) TREATMENT OF RELATED ORGANIZATIONS.— 
For purposes of this section, assets held by any related 
organization (as defined in section 4968(d)(2) of the In-
ternal Revenue Code of 1986) with respect to a specified 
institution shall be treated as held by such specified insti-
tution, except that— 
‘‘(1) such assets shall not be taken into account 
with respect to more than 1 specified institution; 
and 
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‘‘(2) unless such organization is controlled by 
such institution or is described in section 509(a)(3) 
of the Internal Revenue Code of 1986 with respect 
to such institution, assets which are not intended or 
available for the use or benefit of such specified in-
stitution shall not be taken into account. 
‘‘(e) VALUATION OF DEBT.—For purposes of this 
section, the fair market value of any debt shall be the prin-
cipal amount of such debt. 
‘‘(f) REGULATIONS.—The Secretary, after consulta-
tion with the Secretary of the Treasury, may issue such 
regulations or other guidance as may be necessary or ap-
propriate to carry out the purposes of this section, includ-
ing regulations or other guidance providing for the proper 
application of this section with respect to certain regulated 
investment companies, exchange traded funds, and pooled 
investments. 
‘‘(g) COMPLIANCE OFFICER.—Any specified institu-
tion that is required to submit a report under subsection 
(a) shall designate, before the submission of such report, 
and maintain a compliance officer, who shall— 
‘‘(1) be a current employee or legally authorized 
agent of such institution; and 
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‘‘(2) be responsible, on behalf of the institution, 
for personally certifying accurate compliance with 
the reporting requirements under this section. 
‘‘(h) DATABASE
REQUIREMENT.—Beginning not 
later than 60 days before the July 1 immediately following 
the date of the enactment of the RIFA Act, the Secretary 
shall— 
‘‘(1) establish and maintain a searchable data-
base on a website of the Department, under which 
all reports submitted under this section (including 
any report submitted under this section before the 
date of the enactment of the RIFA Act)— 
‘‘(A) are made publicly available (in elec-
tronic and downloadable format), including any 
information provided in such reports; 
‘‘(B) can be individually identified and 
compared; and 
‘‘(C) are searchable and sortable; and 
‘‘(2) not later than 30 days after receipt of a 
disclosure report under this section, include such re-
port in such database. 
‘‘(i) INTERAGENCY INFORMATION SHARING.—Not 
later than 30 days after receiving a disclosure report from 
an institution in compliance with this section, the Sec-
retary shall transmit an unredacted copy of such report 
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to the Director of the Federal Bureau of Investigation, 
the Director of National Intelligence, the Assistant Attor-
ney General for National Security, the Director of the 
Central Intelligence Agency, and the Director of the Na-
tional Science Foundation. 
‘‘(j) ENFORCEMENT.— 
‘‘(1) INVESTIGATION.—The Secretary (acting 
through the General Counsel of the Department) 
may conduct investigations of possible violations of 
this section by institutions. 
‘‘(2) CIVIL ACTION.—Whenever it appears that 
an institution has knowingly or willfully failed to 
comply with a requirement of this section (including 
any rule or regulation promulgated under this sec-
tion) based on such an investigation, a civil action 
may be brought by the Attorney General, at the re-
quest of the Secretary, in an appropriate district 
court of the United States, or the appropriate 
United States court of any territory or other place 
subject to the jurisdiction of the United States, to 
request such court to compel compliance with the re-
quirement of this section. 
‘‘(3) COSTS AND OTHER FINES.—An institution 
that is compelled to comply with a requirement of 
this section pursuant to paragraph (2) shall— 
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‘‘(A) pay to the Treasury of the United 
States the full costs to the United States of ob-
taining compliance with the requirement of this 
section, including all associated costs of inves-
tigation and enforcement; and 
‘‘(B) be subject to the applicable fines de-
scribed in paragraph (4). 
‘‘(4) FINES FOR VIOLATIONS.—The Secretary 
shall impose a fine on an institution that knowingly 
or willfully fails to comply with a requirement of this 
section as follows: 
‘‘(A) FIRST-TIME
VIOLATIONS.—In the 
case of a specified institution that knowingly or 
willfully fails to comply with a requirement of 
this section with respect to a calendar year, and 
that has not previously knowingly or willfully 
failed to comply with such a requirement, the 
Secretary shall impose a fine on the institution 
in an amount that is not less than 50 percent 
and not more than 100 percent of the sum of— 
‘‘(i) the aggregate fair market value 
of all investments of concern held by such 
institution as of the close of such calendar 
year; and 
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‘‘(ii) the combined value of all invest-
ments of concern sold over the course of 
such calendar year, as measured by the 
fair market value of such investments at 
the time of the sale. 
‘‘(B) SUBSEQUENT
VIOLATIONS.—In the 
case of a specified institution that has been 
fined pursuant to clause (i) with respect to a 
calendar year, and that knowingly or willfully 
fails to comply with a requirement of this sec-
tion with respect to any additional calendar 
year, the Secretary shall impose a fine on the 
institution with respect to any such additional 
calendar year in an amount that is not less 
than 100 percent and not more than 200 per-
cent of the sum of— 
‘‘(i) the aggregate fair market value 
of all investments of concern held by such 
institution as of the close of such addi-
tional calendar year; and 
‘‘(ii) the combined value of all invest-
ments of concern sold over the course of 
such additional calendar year, as measured 
by the fair market value of such invest-
ments at the time of the sale. 
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