Reveal Risky Business in Russia Act

Bill: 117-hr-7228
Sponsor: full_name: Rep. Torres, Ritchie [D-NY-15]
Introduced: 2022-03-24
Policy area: Finance and Financial Sector
Subjects: Conflicts and wars

Europe

Financial services and investments

Government information and archives

Military operations and strategy

Russia

Securities

Sovereignty, recognition, national governance and status
Latest action: action_date: 2022-03-24
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2022-03-24
action_desc: Introduced in House
text: <p><strong>Reveal Risky Business in Russia Act</strong></p> <p>This bill requires an issuer of securities to disclose whether the issuer does business with or in Russia or any country that, after March 24, 2022, invades a sovereign nation state or annexes sovereign territory.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 7228 IN THE HOUSE OF REPRESENTATIVES March 24, 2022 Mr. Torres of New York introduced the following bill; which was referred to the Committee on Financial Services A BILL To amend the Securities Exchange Act of 1934 to require issuers to disclose whether they do business in, or with Russia or other aggressor nations, and for other purposes.

1. Short title This Act may be cited as the Reveal Risky Business in Russia Act . 2. Disclosure of business ties to Russia or other aggressor nations Section 13 of the Securities Exchange Act of 1934 ( 15 U.S.C. 78m ) is amended by adding at the end the following: (s) Disclosure of business ties to Russia or other aggressor nations (1) In general Each issuer required to file an annual or quarterly report under subsection (a) shall disclose in that report whether the issuer does business in or with— (A) Russia; or (B) any country that, after March 24, 2022, invades a sovereign nation state or annexes sovereign territory in an unprovoked war of aggression. (2) Termination The requirements under paragraph (1) shall cease to have any force or effect on the earlier of— (A) the date that is 5 years after the date of enactment of this subsection; and (B) the date on which the Commission— (i) determines that such requirements are not in the public interest or for the protection of investors; and (ii) notifies the Congress of such determination, and makes such determination available to the public. .