Judgment Evading Foreign States Accountability Act of 2011

Bill: 112-hr-1798
Sponsor: Rep. Mack, Connie [R-FL-14]
Introduced: 2011-05-06 in the House
Policy area: International Affairs
Subjects: Business investment and capital
Civil actions and liability
Congressional oversight
Foreign aid and international relief
Foreign and international banking
Foreign and international corporations
Foreign loans and debt
Government liability
Multilateral development programs
Sanctions
Securities
U.S. and foreign investments

Summary:
action_date: 2011-05-06
text: 
Judgment Evading Foreign States Accountability Act of 2011 - States the policy of the United States regarding: (1) advocacy within the governing bodies of international organizations and other foreign policy settings for the full compensation and fair treatment of persons in whose favor judgments have been awarded by U.S. courts; (2) protection of economic interests of persons and nations that benefit from a reliable flow of foreign capital by restricting the access to U.S. capital markets of judgment evading foreign states (foreign states that fail to fully satisfy a final judgment exceeding a certain amount for more than two years) and their state-owned corporations, warning of the dangers of dealing financially with such states and state-owned corporations, and calling upon international financial institutions to vote against providing funding or foreign capital to judgment evading foreign states; and (3) further solidification of the authority of the U.S. courts by preventing such states from willfully flouting the judgments of those courts.
 
Directs the Securities and Exchange Commission (SEC) to: (1) deny a judgment evading foreign state access to U.S. capital markets; and (2) require all periodic filings made by such a state with the SEC to bear prominently a warning describing its failure to satisfy outstanding judgments. Imposes similar restrictions on state-owned corporations of such states.
 
Requires: (1) a proposal to extend bilateral or multilateral assistance to a judgment evading state to bear notice that such state is a judgment evading state; and (2) the Secretary of the Treasury to notify Congress promptly of the proposal.


Legislative actions:
action_date: 2012-11-29
text: Forwarded by Subcommittee to Full Committee in the Nature of a Substitute (Amended) by Voice Vote .
action_date: 2012-11-29
text: Subcommittee Consideration and Mark-up Session Held.
action_date: 2012-11-15
text: Referred to the Subcommittee on the Western Hemisphere.
action_date: 2012-11-15
text: Referred to the Subcommittee on Terrorism, Nonproliferation, and Trade.
action_date: 2011-07-29
text: Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
action_date: 2011-07-29
text: Referred to the Subcommittee on International Monetary Policy and Trade.
action_date: 2011-05-06
text: Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-05-06
text: Referred to the Committee on Financial Services, and in addition to the Committee on Foreign Affairs, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
action_date: 2011-05-06
text: Introduced in House
action_date: 2011-05-06
text: Introduced in House