(15) Strengthening sanctions against the IRGC, 
ensuring that the United States Government identify 
and designate more of the affiliated entities through 
which the IRGC operates, and providing for addi-
tional secondary sanctions on firms that assist the 
IRGC, will help deprive the IRGC of resources need-
ed to carry out its nefarious activities. 
SEC. 3. MODIFICATION OF IMPOSITION OF SANCTIONS 
WITH RESPECT TO PERSONS THAT SUPPORT 
OR CONDUCT CERTAIN TRANSACTIONS WITH 
IRAN’S REVOLUTIONARY GUARD CORPS OR 
OTHER SANCTIONED PERSONS. 
(a) MODIFICATION OF IMPOSITION OF SANCTIONS.— 
Subsection (b) of section 302 of the Iran Threat Reduc-
tion and Syrian Human Rights Act of 2012 (22 U.S.C. 
8742) is amended by striking ‘‘the President—’’ and all 
that follows and inserting ‘‘the President shall block and 
prohibit all transactions in property and interests in prop-
erty with respect to such foreign person if such property 
and interests in property are in the United States, come 
within the United States, or are or come within the posses-
sion or control of a United States person.’’. 
(b) SPECIAL LICENSING AUTHORITY.—Such section, 
as so amended, is further amended by striking subsection 
(f) and inserting the following: 
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‘‘(f) SPECIAL LICENSING AUTHORITY.— 
‘‘(1) IN GENERAL.—The President is author-
ized to issue licenses to United States persons to en-
gage in transactions in property and interests in 
property with respect to a foreign person that is 
subject to imposition of sanctions under subsection 
(b) notwithstanding the imposition of such sanctions 
with respect to the foreign person. 
‘‘(2) REGULATIONS.—Not later than 90 days 
after the date of the enactment of this subsection, 
the President shall issue regulations to implement 
this subsection.’’. 
SEC. 4. REPORT BY COMPTROLLER GENERAL OF THE 
UNITED STATES. 
(a) IN GENERAL.—Not later than 180 days after the 
date of the enactment of this Act, and annually thereafter, 
the Comptroller General of the United States shall submit 
to the President and the appropriate congressional com-
mittees a report— 
(1) identifying foreign persons not currently 
subject to sanctions under subsection (b) of section 
302 of the Iran Threat Reduction and Syrian 
Human Rights Act of 2012 (22 U.S.C. 8742) (as 
amended by section 3 of this Act), for knowingly en-
gaging in an activity described in subsection (a)(1) 
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of such section that, within the preceding three 
years, have been reported to have conducted trans-
actions or have provided material support to Iran’s 
Revolutionary Guard Corps or any blocked entity 
that has been designated as a front, agent, or affil-
iate of Iran’s Revolutionary Guard Corps, or other-
wise is designated on the list of specially designated 
nationals and blocked persons maintained by the Of-
fice of Foreign Assets Control of the Department of 
the Treasury with the identifier ‘‘IRGC’’; and 
(2) identifying foreign persons not currently on 
the list of specially designated nationals and blocked 
persons maintained by the Office of Foreign Assets 
Control of the Department of the Treasury that, 
within the preceding three years, are reported to be 
under the ownership and control of Iran’s Revolu-
tionary Guard Corps, or are reported to be a front, 
agent, or affiliate of Iran’s Revolutionary Guard 
Corps, including foreign persons whose officers, offi-
cials, or those directing activity of the persons are 
reportedly officers, officials, or other persons acting 
on behalf of Iran’s Revolutionary Guard Corps or its 
designated fronts, agents, or affiliates. 
(b) SOURCES FOR REPORT.—The Comptroller Gen-
eral of the United States shall utilize any credible publica-
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tion, database, web-based resource and any credible infor-
mation compiled by any government agency, non-govern-
mental organization, or other entity provided to or made 
available to the Comptroller General, including informa-
tion from foreign persons identified in the report. 
SEC. 5. REVIEW, SANCTIONS, AND REPORT BY PRESIDENT. 
(a) REVIEW.—Not later than 180 days after the date 
on which the report is submitted to the President and the 
appropriate congressional committees under section 4, the 
President shall conduct and complete a review of the for-
eign persons identified in the report to determine, using 
all sources available, whether there is sufficient evidence 
to impose sanctions against any of the foreign persons. 
(b) SANCTIONS.—Unless the President determines 
under subsection (a) that there is insufficient evidence to 
impose sanctions against a foreign person identified in the 
report submitted to the President and the appropriate con-
gressional committees under section 4, the President shall 
include the foreign person on the list of specially des-
ignated nationals and blocked persons maintained by the 
Office of Foreign Assets Control of the Department of the 
Treasury, impose sanctions against the foreign persons 
under subsection (b) of section 302 of the Iran Threat 
Reduction and Syrian Human Rights Act of 2012 (22 
U.S.C. 8742) (as amended by section 3 of this Act), or 
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impose sanctions against the foreign person under any 
other provision of law, as applicable. 
(c) REPORT.—The President shall submit to the ap-
propriate congressional committees a report that contains 
the results of the review under subsection (a) and the im-
position of sanctions under subsection (b) (if any). The 
report should be submitted in unclassified form, but may 
contain a classified annex. 
SEC. 6. SECURITIES AND EXCHANGE FILING REQUIRE-
MENTS. 
(a) IN GENERAL.—Section 13(r)(1)(D) of the Securi-
ties Exchange Act of 1934 (15 U.S.C. 78m(r)(1)(D)) is 
amended— 
(1) in clause (ii), by striking ‘‘or’’ at the end; 
(2) in clause (iii), by striking the period at the 
end and inserting ‘‘; or’’; and 
(3) by adding at the end the following: 
‘‘(iv) any foreign person identified in 
the most recent report of the Comptroller 
General of the United States submitted 
under section 4 of the Iran’s Revolutionary 
Guard Corps Sanctions Implementation 
and Review Act prior to the commence-
ment of the transaction or dealing.’’. 
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