such entity), or any other entity headquartered 
in the People’s Republic of China, and an as-
sessment of the likelihood of the intelligence 
services of the People’s Republic of China gain-
ing access to the contents and data of the dig-
ital devices used by United States embassy per-
sonnel as a result of any such servicing. 
(C) Any other information regarding ongo-
ing efforts to safeguard the telecommunications 
security of United States embassies. 
(3) FORM.—The report under paragraph (1) 
shall be submitted in unclassified form, but may in-
clude a classified annex. 
SEC. 5. SUPPORTING TRUSTED TELECOMMUNICATIONS. 
(a) IN GENERAL.—The Secretary of State shall select 
for the provision of support under this section tele-
communications infrastructure projects that have the po-
tential, as determined by the Secretary, to promote the 
national security of the United States and meet such other 
requirements as the Secretary may prescribe. 
(b) DIPLOMATIC
AND POLITICAL SUPPORT.—The 
Secretary of State shall provide to each project selected 
under subsection (a), as appropriate, diplomatic and polit-
ical support, including by using the diplomatic and polit-
ical influence and expertise of the Department of State 
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to build the capacity of countries to resolve any impedi-
ments to the development of the project. 
(c) EARLY STAGE PROJECT SUPPORT.—The Director 
of the United States Trade and Development Agency 
should provide, as appropriate, early-stage project support 
with respect to projects selected under subsection (a). 
SEC. 6. DISCLOSURE AND TRANSPARENCY OF UNTRUSTED 
COMMUNICATIONS EQUIPMENT. 
(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: 
‘‘(s) DISCLOSURE OF CERTAIN ACTIVITIES RELATED 
TO UNTRUSTED TELECOMMUNICATIONS EQUIPMENT.— 
‘‘(1) IN GENERAL.—Each issuer required to file 
an annual or quarterly report under subsection (a) 
shall disclose in that report the information required 
in paragraph (2) if, during the period covered by the 
report, the issuer or any affiliate of the issuer used 
or contracted to use covered telecommunications 
equipment or services. 
‘‘(2) INFORMATION REQUIRED.—If an issuer or 
affiliate of the issuer has engaged in an activity de-
scribed in paragraph (1), the issuer shall disclose 
such activity, including a detailed description of— 
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‘‘(A) whether the covered telecommuni-
cations equipment or services are being used in 
a mobile network run by the issuer, and wheth-
er those equipment or services were used in the 
core or periphery of the network; 
‘‘(B) whether the covered telecommuni-
cations equipment or services were used for 
cloud computing or data storage; 
‘‘(C) whether any covered telecommuni-
cations equipment or services were replaced 
with other vendors; and 
‘‘(D) whether the issuer is currently engag-
ing in negotiations or planning to contract to 
use 
additional 
covered 
telecommunications 
equipment or services. 
‘‘(3) NOTICE OF DISCLOSURES.—If an issuer 
reports under paragraph (1) that the issuer or an 
affiliate of the issuer has knowingly engaged in any 
activity described in that paragraph, the issuer shall 
separately file with the Commission, concurrently 
with the annual or quarterly report under subsection 
(a), a notice that the disclosure of that activity has 
been included in that annual or quarterly report that 
identifies the issuer and contains the information re-
quired by paragraph (2). 
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‘‘(4) PUBLIC DISCLOSURE OF INFORMATION.— 
Upon receiving a notice under paragraph (3) that an 
annual or quarterly report includes a disclosure of 
an activity described in paragraph (1), the Commis-
sion shall promptly— 
‘‘(A) transmit the report 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; 
and 
‘‘(B) make the information provided in the 
disclosure and the notice available to the public 
by posting the information on the Internet 
website of the Commission. 
‘‘(5) COVERED
TELECOMMUNICATIONS
EQUIP-
MENT
OR
SERVICE
DEFINED.—In this subsection, 
the term ‘covered telecommunications equipment or 
service’ has the meaning given that term under sec-
tion 7 of the Countering Untrusted Telecommuni-
cations Abroad Act.’’. 
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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 180 days after the date of 
the enactment of this Act. 
SEC. 7. DEFINITIONS. 
In this Act: 
(1) COVERED
TELECOMMUNICATIONS
EQUIP-
MENT
OR
SERVICE; UNTRUSTED
TELECOMMUNI-
CATIONS EQUIPMENT OR SERVICE.—The terms ‘‘cov-
ered telecommunications equipment or service’’ and 
‘‘untrusted telecommunications equipment or serv-
ice’’ mean any telecommunications equipment or 
service produced or provided by any of the following: 
(A) Huawei Technologies Company or 
ZTE Corporation (or any subsidiary or affiliate 
of either such entity). 
(B) Any entity that the Secretary of State 
reasonably believes to be an entity owned or 
controlled by the People’s Republic of China or 
the Russian Federation. 
(2) TELECOMMUNICATIONS
EQUIPMENT
OR 
SERVICE.—The term ‘‘telecommunications equip-
ment or service’’ means any of the following: 
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