,,ii  #aahth ,,congress  #b;d ,session  
,s4 #cide  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,march #ad1    
#bjbd,mr4 ,vance introduced the         
following bill2 which was read twice and
 referred to the ,committee on ,banking1
 ,housing1 and ,urban ,affairs  ,a      
,,bill  ,to restrict the ,chinese       
,government from accessing ,united      
,states capital markets and exchanges if
 it fails to comply with international  
laws relating to finance1 trade1 and    
commerce4  #a4 ,conditional access for  
the ,chinese ,government to ,united     
,states capital markets and exchanges   
7a7 ,definitions ,in this section3 7#a7 
,applicable laws ,the term applicable   
laws means-- 7,a7 the public            
international doctrine of state         
succession1 as it relates to            
international norms and rules of        
finance1 trade1 and commerce1 including 
the successor government doctrine with  
respect to sovereign debt2  7,b7 ,united
 ,states and foreign laws and           

regulations governing transparency and  
disclosures applicable to major capital 
markets1 commodities markets1 and       
exchanges2 and  7,c7 international laws 
prohibiting the practice of exclusionary
 settlement1 discriminatory payments1   
and selective default4  7#b7 ,applicable
 united states entity ,the term         
applicable ,united ,states entity       
means-- 7,a7 a national securities      
exchange that is registered in          
accordance with section #f of the       
,securities ,exchange ,act of #aicd 7#ae
 ,u4,s4,c4 #gh;f72  7,b7 a broker or a  
dealer 7as defined in the ,securities   
,act of #aicc 7#ae ,u4,s4,c4 #gg;a et   
seq47 or in the ,securities ,exchange   
,act of #aicd 7#ae ,u4,s4,c4 #gh;a et   
seq4772  7,c7 an alternative trading    
system 7as defined in section #bdb4cjj  
of title #ag1 ,code of ,federal         
,regulations72  7,d7 an investment      
company 7as defined in section          
#c7;a77#a7 of the ,investment ,company  
,act 7#ae ,u4,s4,c4 #hj;a-#c7;a77#a772  

7,e7 a commodity pool operator1 a       
futures commission merchant1 an         
introducing broker1 a swap dealer1 or a 
swap execution facility 7as such terms  
are defined in section #a;a of the      
,commodity ,exchange ,act 7#g ,u4,s4,c4 
#a;a77 or a contract market designated  
pursuant to section #e of such ,act 7#g 
,u4,s4,c4 #g72  7,f7 a national bank1 a 
,state bank1 or a savings association   
7as such terms are defined in section #b
 of the ,federal ,deposit ,insurance    
,act 7#ab ,u4,s4,c4 #ahac772  7,g7 a    
credit union1 whether chartered under   
the ,federal ,credit ,union ,act or     
under ,state law2  7,h7 a real estate   
broker registered as such under ,state  
law2  7,i7 a ,federal1 ,state1 or local 
government agency2  7,j7 a              
government-sponsored enterprise 7as     
defined in section #c7h7 of the         
,congressional ,budget and ,impoundment 
,control ,act of #aigd 7#b ,u4,s4,c4    
#fbb7h7772 and  7,k7 any other entity   
authorized to accept investments from1  

or engage in or effect transactions on  
behalf of1 the ,government of the       
,people's ,republic of ,china or any    
commercial entity under the control of  
such government designated by the       
,secretary as an applicable ,united     
,states entity4  7b7 ,in general ,if the
 ,secretary of the ,treasury1 in        
consultation with the ,committee on     
,foreign ,investment in the ,united     
,states1 determines that the ,government
 of the ,people's ,republic of ,china is
 not in compliance with applicable laws 
relating to finance1 trade1 and         
commerce1 as specified in subsection 7c7
 and including the successor government 
doctrine with respect to sovereign debt1
 the ,secretary shall prohibit any      
applicable ,united ,states entity1      
including capital markets1 bond markets1
 and exchanges1 from accepting any new  
investment1 or effecting any transaction
 for others relating to a new           
investment1 from such government or any 
commercial entities under the control of

 such government4  7c7 ,specified       
international laws ,the international   
laws specified in this subsection are-- 
7#a7 the public international doctrine  
of state succession1 as it relates to   
international norms and rules of        
finance1 trade1 and commerce2  7#b7 the 
transparency and disclosure rules and   
regulations applicable to major capital 
markets and exchanges2 and  7#c7        
international laws prohibiting the      
practice of exclusionary settlement1    
discriminatory payments1 and selective  
default4