American Financial Markets Integrity and Security Act

Bill: 116-hr-8800
Sponsor: Rep. Gallagher, Mike [R-WI-8]
Introduced: 2020-11-20 in the House
Policy area: Finance and Financial Sector
Subjects: Asia
China
Congressional oversight
Corporate finance and management
Employee benefits and pensions
Financial services and investments
Foreign and international corporations
Government studies and investigations
Income tax deferral
Insurance industry and regulation
Intelligence activities, surveillance, classified information
International monetary system and foreign exchange
Military civil functions
Military procurement, research, weapons development
Securities
U.S. and foreign investments

Summary:
action_date: 2020-11-20
text: 

American Financial Markets Integrity and Security Act 

 
This bill generally prohibits investments in certain Chinese military companies and entities reasonably believed to be involved in activities contrary to the national security or foreign policy interests of the United States. These entities may not sell securities to U.S. markets. Investment companies, insurance companies, and retirement plans are prohibited from investing in these entities. The bill also prohibits the use of federal funds to enter into or renew a contract with these entities. 
 
Furthermore, the Department of Commerce and the Office of the Director of National Intelligence&#8212;in addition to the Department of Defense as under current law&#8212;are allowed to add entities to the list of Chinese military companies. 


Legislative actions:
action_date: 2020-11-20
text: Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, 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: 2020-11-20
text: Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, 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: 2020-11-20
text: Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, 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: 2020-11-20
text: Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, 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: 2020-11-20
text: Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, 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: 2020-11-20
text: Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, 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: 2020-11-20
text: Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, 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: 2020-11-20
text: Introduced in House
action_date: 2020-11-20
text: Introduced in House