,i  #aaeth ,,congress  #ast ,session    
,h4 ,r4 #dbce  ,,in ,,the ,,house ,,of  
,,representatives  ,november #b1        
#bjag,mr4 ,smith of ,new ,jersey 7for   
himself and ,mr4 ,estes of ,kansas7     
introduced the following bill2 which was
 referred to the ,committee on          
,financial ,services1 and in addition to
 the ,committees on ,foreign ,affairs1  
and ,energy and ,commerce1 for a period 
to be subsequently determined by the    
,speaker1 in each case for consideration
 of such provisions as fall within the  
jurisdiction of the committee concerned 
,a ,,bill  ,to authorize a review of    
financial services industry requirements
 of the ,people's ,republic of ,china   
and the implications of such            
requirements on national security       
interests of the ,united ,states4  #a4  
,national security review of            
international financial services        
requirements  7a7 ,review ,the          
,secretary of the ,treasury1 in         
consultation with the ,secretary of     

,defense1 the ,secretary of ,commerce   
and the ,secretary of ,homeland         
,security1 shall conduct a review of    
financial services industry requirements
 of the ,people's ,republic of ,china   
and the implications of such            
requirements on the national security1  
political1 or economic interests of the 
,united ,states1 including--  7#a7 an   
assessment regarding potential threats  
to national security posed by a ,united 
,states financial services company owned
 or controlled by a company organized1  
incorporated1 or whose primary place of 
business is in the ,people's ,republic  
of ,china having access to personal     
financial information of ,united ,states
 military servicemembers or ,federal    
employees or contractors holding        
security clearances who utilize such    
company's ,united ,states locations to  
make a money transfer or other form of  
payment2  7#b7 an assessment regarding  
potential vulnerabilities to personal   
privacy posed by a ,united ,states      

financial services company owned or     
controlled by a company organized1      
incorporated1 or whose primary place of 
business is in the ,people's ,republic  
of ,china having access to personal     
financial information of customers who  
are using one of such company's ,united 
,states locations to make a money       
transfer or other form of payment2  7#c7
 an examination of the ,united ,states  
financial services policy and foreign   
policy as it relates to ensuring        
competition in global financial markets2
  7#d7 an examination of the            
relationship between the ,united ,states
 and the ,people's ,republic of ,china  
as it relates to ensuring reciprocity in
 access to and investment in financial  
markets in each nation2  7#e7 an        
examination of the appropriate laws1    
regulations1 and policies of the        
,people's ,republic of ,china to        
determine whether a ,united ,states     
domestic corporation would be permitted 
to purchase1 acquire1 merge1 or         

otherwise establish a joint relationship
 with an entity whose primary place of  
business is in the ,people's ,republic  
of ,china2 and  7#f7 an examination of  
the appropriate laws and regulations of 
the ,people's ,republic of ,china to    
determine the extent to which ,united   
,states domestic corporations are       
limited with respect to their ability to
 provide money transmission1 payment    
processing1 and other financial services
 inside the ,people's ,republic of      
,china4  7b7 ,report and recommendations
 ,not later than #ij days after the date
 of enactment of this ,act1 the         
,secretary of the ,treasury1 in         
consultation with the ,secretary of     
,defense1 the ,secretary of ,commerce1  
and the ,secretary of ,homeland         
,security1 shall report to the          
,president and the ,congress on the     
findings of the study described in      
subsection 7a7 and any recommendations  
the ,secretaries consider appropriate4  
7c7 ,regulatory effect ,notwithstanding 

any other provision of law1 the         
,committee on ,foreign ,investment in   
the ,united ,states shall not conclude a
 national security review or            
investigation related to the acquisition
 of a ,united ,states domestic          
corporation that provides money transfer
 or payment processing services by an   
entity organized1 incorporated1 or whose
 primary place of business is in the    
,people's ,republic of ,china until the 
report described in subsection 7b7 has  
been provided to the ,president and the 
,congress4