,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ajdgj  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,decemb] #ah1         
#bjbd,mr4 ,bey] 7= himself & ,ms4       
,scanlon7 introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ! ,judici>y  
,a ,,bill  ,to am5d section #bjg ( title
 #ah1 ,unit$ ,/ates ,code1 to prohibit  
c]ta9 =m] ,f$]al (ficials f inve/+ 9 or 
s]v+ 9 a manag]ial role 9 an inve/m5t   
fund 9 :i* a =eign pr9cipal owns %>es )9
 a c]ta9 "t p]iod if su* inve/m5t or    
manag]ial role is bas$ on conv]sations  
betwe5 su* =m] (ficials & su* =eign     
pr9cipal :ile su* =m] (ficial 0 employ$ 
by ! ,f$]al ,gov]nm5t1 & = o!r purposes4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,political ,appo9tee ,illicit       
,deal+s ,act or ,,paid ,act4  #b4       
,prohibition relat+ to =eign entities   
7a7 ,prohibition ,section #bjg7;f7 (    
title #ah1 ,unit$ ,/ates ,code1 is am5d$
 by /rik+ p>agraph 7#c7 & ins]t+ !      
foll[+3  7#c7 ,special rule = =m] ,f$]al
 (ficials on inve/m5ts or managem5t     

roles  7,a7 ,rule ,any p]son :o-- 7i7 is
 subject to ! re/rictions conta9$ 9     
subsection 7c71 7d71 or 7e72 or  7ii7   
w\ld h be5 subject to ! re/rictions 9   
su* subsection if su* p]son receiv$     
comp5sation = s]vice or employm5t 9 !   
position1 (fice1 or employm5t ref]r$ to 
9 su* subsection at a rate :i* w\ld h   
made ! p]son subject to su* re/rictions1
  & :o kn[+ly1 )9 #d ye>s ( any ex*ange 
( communication betwe5 su* p]son & a    
=eign pr9cipal or ag5t ( a =eign        
pr9cipal makes a sub/antial inve/m5t1 or
 accepts or assumes a manag]ial role1 9 
a bus9ess entity kn[+ t su* =eign       
pr9cipal or ag5t ( a =eign pr9cipal has 
a direct or indirect sub/antial inve/m5t
 9 su* bus9ess entity1 %all be subject  
to ! p5alties set =? 9 section #baf (   
?is title4  7,b7 ,exception ,! rule "u  
subp>agraph 7,a7 does n apply to a p]son
 ref]r$ to 9 su* subp>agraph-- 7i7 :o   
has no manag]ial role 9 a bus9ess entity
 describ$ 9 su* subp>agraph & 9 :i* su* 
p]son has a f9ancial int]e/ solely      

?r\gh-- 7,i7 an employ]-sponsor$        
retirem5t plan2 or  7,,ii7 a tru/ 9 :i* 
su* p]son has a b5eficial int]e/2 &     
7ii7 :o does n control or recomm5d1 ei!r
 directly or ?r\gh a relative ( su*     
p]son1 any inve/m5t ( ! plan or tru/4   
7,c7 ,compliance ,to comply ) ! rule "u 
subp>agraph 7,a71 su* p]son %all dive/  
su* inve/m5t or t]m9ate su* role )9 #abj
 days ( discov]+ t su* =eign pr9cipal or
 ag5t ( ! =eign pr9cipal has a direct or
 indirect sub/antial inve/m5t 9 su*     
bus9ess entity4  7#d7 ,def9itions ,9 ?is
 subsection3 7,a7 ,ag5t ( a =eign       
pr9cipal ,! t]m ag5t ( a =eign pr9cipal 
means any p]son :o-- 7i7 acts z an ag5t1
 repres5tative1 employee1 or s]vant1 or 
any p]son :o acts 9 any o!r capacity at 
! ord]1 reque/1 or "u ! direction or    
control1 ( a =eign pr9cipal2 or  7ii7 a 
p]son any ( ^: activities are directly  
or indirectly sup]vis$1 direct$1        
controll$1 f9anc$1 or subsidiz$ 9 :ole  
or 9 major "p by a =eign pr9cipal4  7,b7
 ,bus9ess entity ,! t]m bus9ess entity  

has ! mean+ giv5 su* t]m 9 section #ccd 
( ! ,gramm-,lea*-,bliley ,act 7#ae      
,u4,s4,c4 #fgfd71 except ! t]m does n   
include-- 7i7 a managem5t company 7z    
def9$ "u section #d ( ! ,inve/m5t       
,company ,act ( #aidj 7#ae ,u4,s4,c4    
#hj;a-#d77 t is regi/]$ ) ! ,securities 
& ,ex*ange ,commission "u t ,act2  7ii7 
an inve/m5t company 7z def9$ "u section 
#c ( ! ,inve/m5t ,company ,act ( #aidj  
7#ae ,u4,s4,c4 #hj;a-#c77 t is a        
regulat$ inve/m5t company "u section    
#hea ( ! ,int]nal ,rev5ue ,code ( #aihf 
7#bf ,u4,s4,c4 #hea72 or  7iii7 ! issu] 
( a security t is regi/]$ ) !           
,securities & ,ex*ange ,commission      
pursuant to section #ab ( ! ,securities 
,ex*ange ,act ( #aicd 7#ae ,u4,s4,c4    
#ghl7 & li/$ on a national ex*ange4     
7,c7 ,=eign entity ,! t]m =eign entity  
means ! gov]nm5t ( a =eign c\ntry z     
def9$ 9 section #a7;e7 ( ! ,=eign ,ag5ts
 ,regi/ration ,act ( #aich1 z am5d$1 or 
a =eign political p>ty z def9$ 9 section
 #a7;f7 ( t ,act4  7,d7 ,=eign pr9cipal 

,! t]m =eign pr9cipal has ! mean+ giv5  
su* t]m 9 section #a ( ! ,=eign ,ag5ts  
,regi/ration ,act ( #aich1 z am5d$ 7#bb 
,u4,s4,c4 #faa74  7,e7 ,indirect        
sub/antial inve/m5t ,! t]m indirect     
sub/antial inve/m5t includes a          
sub/antial inve/m5t made by any =eign   
pr9cipal or ag5t ( a =eign pr9cipal act+
 on directions f ! =eign pr9cipal or    
ag5t ( a =eign pr9cipal describ$ su*    
subp>agraph4  7,f7 ,manag]ial role ,!   
t]m manag]ial role means an assignm5t )9
 an organization :i* entails-- 7i7      
manag+ ! organization1 or a dep>tm5t1   
subdivision1 function1 or compon5t ( !  
organization2  7ii7 sup]vis+ & controll+
 ! "w ( o!r sup]visory1 pr(essional1 or 
manag]ial employees1 or manag+ an       
ess5tial function )9 ! organization1 or 
a dep>tm5t or subdivision ( !           
organization2  7iii7 if ano!r employee  
or o!r employees are directly sup]vis$1 
hav+ ! au?ority to hire & fire or       
recomm5d ^? z well z o!r p]sonnel       
actions 7su* z promotion & leave        

au?orization7 or1 if no o!r employee is 
directly sup]vis$1 function+ at a s5ior 
level )9 ! organizational hi]>*y or )   
respect to ! function manag$2 &  7iv7   
ex]cis+ discretion ov] ! day-to-day     
op]ations ( ! activity or function = :i*
 ! employee has au?ority4  7,g7         
,relative ,! t]m relative 9 relation to 
a p]son describ$ 9 p>agraph 7#c77;,a7   
has ! mean+ giv5 su* t]m 9 section      
#acaja ( title #e4  7,h7 ,sub/antial    
inve/m5t ,! t]m sub/antial inve/m5t     
means any inve/m5t t exce$s #be1jjj or  
"o p]c5t ( ! value ( ! bus9ess entity1  
:i*ev] am\nt is great]4  4  7b7         
,applicability ,! am5dm5ts made by ?is  
section %all apply on & aft] ! date t is
 #abj days aft] ! date ( enactm5t ( ?is 
,act4