,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #ajcg  ,,in ,,the ,,house ,,of  
,,representatives  ,february #g1        
#bjai,mr4 ,riggleman introduced the     
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to increase transparency    
with respect to financial services      
benefitting state sponsors of terrorism1
 human rights abusers1 and corrupt      
officials1 and for other purposes4  #a4 
,short title ,this ,act may be cited as 
the ,banking ,transparency for          
,sanctioned ,persons ,act of #bjai4  #b4
 ,report on financial services          
benefitting state sponsors of terrorism1
 human rights abusers1 and corrupt      
officials  7a7 ,in general ,not later   
than #ahj days after the date of the    
enactment of this ,act1 and every #ahj  
days thereafter1 the ,secretary of the  
,treasury shall issue a report to the   
,committees on ,financial ,services and 
,foreign ,affairs of the ,house of      
,representatives and the ,committees on 

,banking1 ,housing1 and ,urban ,affairs 
and ,foreign ,relations of the ,senate  
that includes--  7#a7 a copy of any     
license issued by the ,secretary in the 
preceding #ahj days that authorizes a   
financial institution to provide        
financial services benefitting a state  
sponsor of terrorism2 and  7#b7 a list  
of any foreign financial institutions   
that1 in the preceding #ahj days1       
knowingly conducted a significant       
transaction or transactions1 directly or
 indirectly1 for a sanctioned person    
included on the ,department of the      
,treasury's ,specially ,designated      
,nationals ,and ,blocked ,persons ,list 
who--  7,a7 is owned or controlled by1  
or acts on behalf of1 the government of 
a state sponsor of terrorism2 or  7,b7  
is designated pursuant to any of the    
following3  7i7 ,section #djd of the    
,russia and ,moldova ,jackson-,vanik    
,repeal and ,sergei ,magnitsky ,rule of 
,law ,accountability ,act of #bjab      
7,public ,law #aab-bjh74  7ii7 ,subtitle

 ,f of title ,,xii of the ,national     
,defense ,authorization ,act for ,fiscal
 ,year #bjag 7,public ,law #aad-cbh1 the
 ,global ,magnitsky ,human ,rights      
,accountability ,act74  7iii7 ,executive
 ,order #achah4  7b7 ,form of report    
,the report required under subsection   
7a7 shall be submitted in unclassified  
form but may contain a classified annex4
  #c4 ,waiver ,the ,secretary of the    
,treasury may waive the requirements of 
section #b with respect to a foreign    
financial institution described in      
paragraph 7#b7 of such section--  7#a7  
upon receiving credible assurances that 
the foreign financial institution has   
ceased1 or will imminently cease1 to    
knowingly conduct any significant       
transaction or transactions1 directly or
 indirectly1 for a person described in  
subparagraph 7,a7 or 7,b7 of such       
paragraph 7#b72 or  7#b7 upon certifying
 to the ,committees on ,financial       
,services and ,foreign ,affairs of the  
,house of ,representatives and the      

,committees on ,banking1 ,housing1 and  
,urban ,affairs and ,foreign ,relations 
of the ,senate that the waiver is       
important to the national interest of   
the ,united ,states1 with an explanation
 of the reasons therefor4  #d4          
,definitions ,for purposes of this ,act3
 7#a7 ,financial institution ,the term  
financial institution means a ,united   
,states financial institution or a      
foreign financial institution4  7#b7    
,foreign financial institution ,the term
 foreign financial institution has the  
meaning given that term under section   
#efa4cjh of title #ca1 ,code of ,federal
 ,regulations4  7#c7 ,knowingly ,the    
term knowingly with respect to conduct1 
a circumstance1 or a result1 means that 
a person has actual knowledge1 or should
 have known1 of the conduct1 the        
circumstance1 or the result4  7#d7      
,united ,states financial institution   
,the term ,united ,states financial     
institution has the meaning given the   
term ,u4,s4 financial institution under 

section #efa4cji of title #ca1 ,code of 
,federal ,regulations4  #e4 ,sunset ,the
 reporting requirement under this ,act  
shall terminate on the date that is the 
end of the #g-year period beginning on  
the date of the enactment of this ,act4