,,ii  #aah? ,,congress  #b;d ,session   
,s4 #dehf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,june #ah1 #bjbd,mr4   
,scott ( ,florida introduc$ ! foll[+    
bill2 :i* 0 read twice & ref]r$ to !    
,committee on ,bank+1 ,h\s+1 & ,urban   
,affairs  ,a ,,bill  ,to prev5t ! fund+ 
( malign activities ( ! ,*9ese ,communi/
 ,p>ty ?\gh ! sale ( ,a-,%>es on c]ta9  
securities ex*anges controll$ by !      
,*9ese ,communi/ ,p>ty by prohibit+ !   
pur*ase1 sale1 & own]%ip ( su*          
securities by ,unit$ ,/ates inve/ors1 & 
= o!r purposes4  #a4 ,%ort title ,?is   
,act may be cit$ z ! ,/op ,fund+ ! ,,ccp
 ?r\gh ,a-,%>es ,act4  #b4 ,f9d+s2      
purposes  7a7 ,basis ( f9d+s ,! f9d+s   
set =? 9 subsection 7b7 are bas$ on     
facts disclos$ by-- 7#a7 ,executive     
,ord] #aciei1 ,executive ,ord] #acigd1 &
 ,executive ,ord] #adjcb 7#ej ,u4,s4,c4 
#agja note2 relat+ to address+ ! ?reat f
 securities inve/m5ts t f9ance c]ta9    
companies ( ! ,p's ,republic ( ,*9a72   
7#b7 ! record & reports (-- 7,a7 !      

,unit$ ,/ates-,*9a ,economic & ,security
 ,review ,commission ) respect to !     
national security implications ( !      
bilat]al economic & f9ancial relation%ip
 betwe5 ! ,unit$ ,/ates & ! ,p's        
,republic ( ,*9a "u section             
#abch7;b77#b7 ( ! ,floyd ,d4 ,sp5ce     
,national ,def5se ,au?orization ,act =  
,fiscal ,ye> #bjja 7z enact$ into law by
 ,public ,law #ajf-cih2 #bb ,u4,s4,c4   
#gjjb7;b77#b772  7,b7 !                 
,congressional-,executive ,commission on
 ! ,p's ,republic ( ,*9a ) respect to ! 
acts ( ! ,p's ,republic ( ,*9a t reflect
 compliance ) or violation ( human      
rights & ! developm5t ( ! rule ( law 9 !
 ,p's ,republic ( ,*9a "u title ,,iii ( 
! ,u4,s4-,*9a ,relations ,act ( #bjjj   
7#bb ,u4,s4,c4 #fiaa et seq472 &  7#c7 !
 annual ?reat assessm5t ( ! intellig5ce 
community "u section #ajh;,b ( !        
,national ,security ,act ( #aidg 7#ej   
,u4,s4,c4 #cjdc;b72  7#d7 ! annual      
report ( ! ,dep>tm5t ( ,def5se on       
milit>y & security developm5ts involv+ !

 ,p's ,republic ( ,*9a "u section #abjb 
( ! ,national ,def5se ,au?orization ,act
 = ,fiscal ,ye> #bjjj 7,public ,law     
#ajf-fe2 #aj ,u4,s4,c4 #aac note72  7#e7
 ! annual ,c\ntry ,reports on ,human    
,rights ,practices ( ! ,dep>tm5t (      
,/ate2 &  7#f7 facts o!rwise disclos$ & 
asc]ta9$4  7b7 ,f9d+s ,congress f9ds t  
inve/m5ts 9 securities li/$ on c]ta9    
securities ex*anges 9 ! ,p's ,republic (
 ,*9a adv]sely affect ! public int]e/ ( 
! ,unit$ ,/ates & ! int]e/ ( ,unit$     
,/ates inve/ors1 9 t1 among o!r ?+s--   
7#a7 ! ideology1 goals1 & actions ( !   
,*9ese ,communi/ ,p>ty are inimical to !
 national security1 economic security1  
fundam5tal values1 & lib]ty ( ! ,unit$  
,/ates & citiz5s ( ! ,unit$ ,/ates2     
7#b7 all gov]nm5tal1 economic1 bus9ess1 
& social in/itutions 9 ! ,p's ,republic 
( ,*9a are effectively in/rum5talities (
 ! ,*9ese ,communi/ ,p>ty1 z reflect$ 9 
! ,p>ty's *>t]1 :i* /ates1 ,gov]nm5t1 ! 
milit>y1 society & s*ools1 nor?1 s\?1   
ea/ & we/--! p>ty leads !m all1 & are   

utiliz$ by ! ,*9ese ,communi/ ,p>ty to  
a*ieve its goals1 p>am\nt among :i* are 
/ay+ 9 p[] & vanqui%+ ! ,unit$ ,/ates z 
! _w's lead+ sup]p[]2  7#c7 among ^?    
in/itutions is ! ,p's ,lib]ation ,army1 
an in/rum5tality ( ! ,*9ese ,communi/   
,p>ty report+ to ! ,c5tral ,milit>y     
,commission ( ! ,*9ese ,communi/ ,p>ty2 
7#d7 ! core mission ( ! ,p's ,lib]ation 
,army is to su/a9 ! ,*9ese ,communi/    
,p>ty's grip on p[]1 z 0 demon/rat$ by !
 ,*9ese ,communi/ ,p>ty's use ( ! ,p's  
,lib]ation ,army 9 putt+ d[n !          
pro-democracy demon/rations ( #aihi2    
7#e7 ! ,*9ese ,communi/ ,p>ty is        
actively und]m9+ ! national security ( !
 ,unit$ ,/ates ?r\gh a massive buildup (
 ! milit>y capabilities ( ! ,p's        
,lib]ation ,army & increas+ly aggressive
 actions by milit>y & p>amilit>y actors2
  7#f7 ! ,*9ese ,communi/ ,p>ty supports
 ! buildup ( ^? capabilities ?r\gh a    
program ( milit>y-civil fusion "u :i*   
,*9ese companies & rese>*]s mu/ %>e     
te*nology & equipm5t ) ! ,*9ese milit>y1

 ) ! goal ( ensur+ t ! ,p's ,lib]ation  
,army a*ieves global milit>y dom9ance by
 #bjdi2  7#g7 ^? companies1 kn[n z      
,*9ese milit>y indu/rial-complex        
companies1 al?\gh (t5 repres5t+ !mselves
 z private & civilian1 are1 9 fact1     
directly support+ ! ,*9ese ,communi/    
,p>ty's milit>y1 intellig5ce1 & security
 app>atuses & provid+ aid 9 _!          
developm5t & mod]nization2  7#h7 !      
,*9ese milit>y indu/rial-complex        
companies raise sub/antial capital by   
sell+ securities to ,unit$ ,/ates       
in/itutional & individual inve/ors2     
7#i7 ! ,*9ese milit>y indu/rial-complex 
companies increas+ly d s by li/+ _!     
securities = sale on ! ,%anghai & ,%5zh5
 /ock ex*anges1 :i* are self-proclaim$  
in/rum5talities ( ! ,*9ese ,communi/    
,p>ty & are regulat$ by ! ,*9a          
,securities ,regulatory ,commission1 :i*
 is also an in/rum5tality ( ! ,*9ese    
,communi/ ,p>ty1 & securities s li/$ are
 commonly ref]r$ to z ,a-,%>es2  7#aj7 9
 addition to ,*9ese milit>y             

indu/rial-complex companies1 ^? ex*anges
 are replete ) li/+s ( securities (--   
7,a7 ,*9ese milit>y indu/rial-complex   
companies n includ$ on ,unit$ ,/ates    
sanctions li/s2  7,b7 subsidi>ies ( su* 
companies t are n includ$ on ,unit$     
,/ates sanctions li/s2  7,c7 companies  
d5i$ access to ,unit$ ,/ates te*nology &
 equipm5t because ^? entities support ! 
developm5t1 production1 & deploym5t (   
milit>y items = use by milit>y end-us]s1
 includ+ ! ,*9ese arm$ =ces1 national   
gu>d1 national police1 & gov]nm5t       
intellig5ce organizations2  7,d7        
companies specializ+ 9 advanc$ weapons  
te*nologies t repres5t an unusual &     
extraord9>y ?reat to ! national security
 ( ! ,unit$ ,/ates2  7,e7 companies     
manag+ ! ,p's ,republic ( ,*9a's nucle> 
weapons program & ! expansion ( t       
program2  7,f7 companies build+ ! ,p's  
,lib]ation ,army ,air ,=ce's            
next-g5]ation fight]s & bomb]s2  7,g7   
companies c5tral to ! ,p's ,republic (  
,*9a's naval buildup ( aircraft c>ri]s1 

surface %ips1 & subm>9es2  7,h7         
companies conduct+ ! con/ruction &      
milit>ization ( artificial isl&s 9 !    
,s\? ,*9a ,sea2 &  7,i7 companies       
involv$ 9 ! developm5t & use (          
surveillance te*nology to facilitate    
repression & egregi\s human rights      
abuses & advance ! ideology & /rategic  
goals ( ! ,*9ese ,communi/ ,p>ty        
dome/ically & int]nationally2  7#aa7    
inve/m5t ( ,unit$ ,/ates capital by     
,unit$ ,/ates inve/ors 9 ! securities ( 
companies li/$ on ^? ex*anges has       
increas$ dramatically ?r\gh ! inclusion 
( ^? securities 9 indices publi%$ by    
major index provid]s & 9 inve/m5t       
products track+ ^? indexes (f]$ by ! mo/
 prom95t asset manag]s 9 ! ,unit$       
,/ates2  7#ab7 inve/m5t ( ,unit$ ,/ates 
capital by ,unit$ ,/ates inve/ors ?r\gh 
^? ex*anges 9 ! securities ( ^?         
companies1 :i* directly support ! ef=ts 
( ! milit>y1 intellig5ce1 & o!r security
 app>atuses ( ! ,p's ,republic ( ,*9a1 &
 9 o!r entities indirectly contribut+ to

 ! developm5t ( ^! app>atuses by _!     
contribution to ! c\ntry's economy1     
pres5ts an unusual & extraord9>y ?reat  
to ! national security1 =eign policy1   
,unit$ ,/ates inve/or community1 &      
economy ( ! ,unit$ ,/ates1 con/itut+ a  
national em]g5cy2  7#ac7 inve/m5t (     
,unit$ ,/ates capital by ,unit$ ,/ates  
inve/ors 9 securities li/$ on ^?        
ex*anges also supports1 bo? indirectly  
?r\gh g5]al economic support1 & directly
 ?r\gh ! op]ations ( specific companies1
 ! ,*9ese ,communi/ ,p>ty's ongo+       
engagem5t ( widespread1 sy/ematic1 &    
egregi\s violations ( human rights1     
includ+-- 7,a7 pursuit ( a rel5tless    
campaign aga9/ ! ,uyghurs 9 ! ,x9jiang  
,uyghur ,autonom\s ,region 9 ! we/]n    
,p's ,republic ( ,*9a1 *>act]iz$ by !   
,unit$ ,/ates ,dep>tm5t ( ,/ate z "o (  
g5ocide1 involv+ =c$ labor1 rape1       
compulsory /]ilization1 & organ h>ve/+1 
all ( :i* cont9ue1 despite ! enactm5t ( 
! ,act entitl$ ,an ,act to ensure t     
goods made ) =c$ labor 9 ! ,x9jiang     

,autonom\s ,region ( ! ,p's ,republic ( 
,*9a d n ent] ! ,unit$ ,/ates m>ket1 & =
 o!r purposes1 approv$ ,decemb] #bc1    
#bjba 7,public ,law #aag-gh2 #ace ,/at4 
#aebe7 7commonly ref]r$ to z ! ,uyghur  
,=c$ ,labor ,prev5tion ,act71 :i* 0     
int5d$ to block goods made ) ,uyghur =c$
 labor f ent]+ ! ,unit$ ,/ates2  7,b7   
cont9u$ pursuit ( ! decades-long        
campaign to eradicate ,tibet's unique   
religi\s1 e?nic1 cultural1 & l+ui/ic    
id5tity1 ) ,tibetans liv+ 9 a virtual   
police /ate & fac+ sev]e re/rictions (  
_! human rights & fundam5tal fre$oms1   
includ+ fre$om ( religion or belief2    
7,c7 pursuit ( a #e-ye> plan to br+ all 
religi\s doctr9e & practice 9 l9e )     
,communi/ ,p>ty doctr9e1 includ+ =bidd+ 
y\? f p>ticipat+ 9 religi\s activities &
 implem5tation ( mass det5tion camps t  
indoctr9ate deta9ees 9 ,*9ese ,communi/ 
,p>ty ideology & =ce r5unciation ( fai? 
& subject+ individuals f\nd violat+ !   
laws & regulations controll+ religion to
 h>assm5t1 surveillance1 int]rogation1  

arre/1 beat+s1 s5t5ces to prison1       
det5tion1 or disappe>ance2  7,d7 /rict  
control ( all dome/ic news report+ & !  
telecommunications infra/ructure1 ensur+
 t only in=mation mat*+ ! ,*9ese        
,communi/ ,p>ty's desir$ n>rative is    
%>$1 ?r\gh ! block+ ( websites1 mass    
deletion ( po/s & us] acc\nts1 &        
imposition ( sev]e puni%m5t on ^? :o d>e
 speak out2  7,e7 arbitr>y arre/ ( ^? :o
 d n con=m to ,*9ese ,communi/ ,p>ty    
ideology1 ) ^? brave en\gh to speak out 
subject to prolong$ & secret det5tion   
)\t access to legal c\nsel or ! ability 
to communicate ) _! families1 & ! use ( 
su* arre/s & ! t]ror !y delib]ately     
in/ill z tools 9 ! ,*9ese ,communi/     
,p>ty's ars5al to ma9ta9 un*all5g$ p[]  
ov] p2  7,f7 op]ation ( a factory sy/em 
9 :i* occupational safety & heal?       
violations are preval5t & work+ & liv+  
conditions 9 factories ) adjac5t        
dormitories are tantam\nt to =c$ labor  
camps1 includ+1 9 ! ,x9jiang ,uyghur    
,autonom\s ,region1 ! subsidization by !

 ,*9ese ,communi/ ,p>ty ( ,*9ese        
companies to set up factories ne>       
det5tion camps 9 ! region & to transf]  
camp victims & o!rs f rural areas to    
factories 9 o!r p>ts ( ! region &       
?r\gh\t ! ,p's ,republic ( ,*9a to "w z 
=c$ labor "u ! guise ( vocational tra9+ 
& pov]ty alleviation programs2 &  7,g7  
imposition ( a simil> regime ( sy/emic  
repression on ! p ( ,hong ,kong1 9      
violation ( promises to ! contr>y1      
includ+ enactm5t ( draconian national   
security legislation t provides = up to 
life 9 prison = ! ambigu\sly def9$      
crimes ( secession1 subv]sion1 t]rorism1
 & collusion ) =eign p[]s1 removal (    
books critical ( ! ,*9ese ,communi/     
,p>ty f book/ore & libr>y %elves1 bann+ 
democratic political slogans1 & requir+ 
s*ools to en=ce c5sor%ip ( tea*]s &     
/ud5ts2  7#ad7 inve/m5t ( ,unit$ ,/ates 
capital by ,unit$ ,/ates inve/ors 9     
securities li/$ on ex*anges describ$ 9  
p>agraph 7#i7 also b5efits companies    
engag$ 9 or b5efitt+ f ! ,*9ese         

,communi/ ,p>ty's implem5tation1 ?r\gh  
in/rum5talities x controls1 ( unfair &  
malici\s economic & comm]cial practices1
 includ+-- 7,a7 intellectual prop]ty !ft
 & co]c$ transf] ( intellectual prop]ty 
9 ex*ange = m>ket access2  7,b7 abuse ( 
int]national trade rules & =a2  7,c7    
campaigns to monopolize t>get$ indu/ries
 & de/roy competitors via /ate          
subsidization ( capital & inputs1 import
 protections & export inc5tives1 &      
exploitation ( labor & ! environm5t2    
7,d7 appropriation ( fi%]y & m9]al      
rights ( o!r c\ntries ?r\gh means (     
intimidation & co]cion by milit>y &     
p>amilit>y actors2 &  7,e7 int]national 
exploitation & de/ruction ( m9]al &     
fi%]y res\rces1 & associat$ labor       
abuses2 &  7#ae7 inve/m5t ( ,unit$      
,/ates capital by ,unit$ ,/ates inve/ors
 9 securities li/$ on ^? ex*anges also  
poses a sub/antial1 & intol]able1 risk  
to ,unit$ ,/ates inve/ors aris+ f-- 7,a7
 ! refusal ( ! ,*9a ,securities         
,regulatory ,commission to accept normal

 acc\nt+ /&>ds 9 its capital m>kets =   
any securities1 prev5t+ ?ird-p>ty       
auditors f kn[+ :e!r a ,*9ese company is
 adh]+ to ! g5]ally accept$ acc\nt+     
pr9ciples guidel9es requir$ ( securities
 trad$ on ,unit$ ,/ates /ock ex*anges2 &
  7,b7 ! failure ( ,*9ese publicly trad$
 companies to engage 9 adequate mat]ial 
risk disclosure1 publi% _! f9ancial     
in=mation1 implem5t ! rule ( law1 &     
adopt accept$ corporate gov]nance /&>ds4
  7c7 ,purposes ,! purposes ( ?is ,act  
are to mitigate &1 to ! ext5t feasible1 
to elim9ate ! conditions describ$ 9     
subsection 7b71 :i* adv]sely affect !   
public int]e/ ( ! ,unit$ ,/ates & !     
int]e/s ( ,unit$ ,/ates inve/ors4  #c4  
,prohibit$ acts  7a7 ,def9itions ,9 ?is 
section3 7#a7 ,act+ 9 a pr(essional     
capacity ,! t]m act+ 9 a pr(essional    
capacity includes act+ z-- 7,a7 a memb] 
7z def9$ 9 section #c7;a77#c77;,a7 ( !  
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gh;c7a77#c77;,a777 ( a       
national securities ex*ange2  7,b7 a    

memb] 7z def9$ 9 section #c7;a77#c77;,b7
 ( ! ,securities ,ex*ange ,act ( #aicd  
7#ae ,u4,s4,c4 #gh;c7a77#c77;,b777 ( a  
regi/]$ securities association2 or  7,c7
 an associat$ p]son ( a memb] 7z def9$ 9
 section #c7;a7 ( ! ,securities ,ex*ange
 ,act ( #aicd 7#ae ,u4,s4,c4 #gh;c7a777 
describ$ 9 subp>agraph 7,a7 or 7,b74    
7#b7 ,assignm5t ,! t]m assignm5t has !  
mean+ giv5 ! t]m 9 section #b7;a7 ( !   
,inve/m5t ,company ,act ( #aidj 7#ae    
,u4,s4,c4 #hj;a-#b7;a774  7#c7 ,comm]ce 
,! t]m comm]ce has ! mean+ giv5 ! t]m 9 
section #d ( ! ,f$]al ,trade ,commission
 ,act 7#ae ,u4,s4,c4 #dd74  7#d7 ,cov]$ 
ex*ange ,! t]m cov]$ ex*ange means--    
7,a7 ! ,%anghai ,/ock ,ex*ange 7or any  
subsidi>y ( t ex*ange72  7,b7 ! ,%5zh5  
,/ock ,ex*ange 7or any subsidi>y ( t    
ex*ange72  7,c7 ! ,beij+ ,/ock ,ex*ange 
7or any subsidi>y ( t ex*ange72 or  7,d7
 any o!r national ex*ange1 or subsidi>y 
( su* an ex*ange1 t is subject to !     
influ5ce or control ( ! ,p>ty ,committee
 ( ! ,*9a ,securities ,regulatory       

,commission1 o!r ?an ! ,/ock ,ex*ange ( 
,hong ,kong4  7#e7 ,cov]$ security ,!   
t]m cov]$ security means a security t-- 
7,a7 z ( ! date on :i* a cov]$          
transaction is execut$ ) respect to !   
security1 is li/$ on a cov]$ ex*ange2   
7,b7 is d]ivative ( a security describ$ 
9 subp>agraph 7,a72 or  7,c7 is design$ 
to provide inve/m5t exposure to a       
security describ$ 9 subp>agraph 7,a74   
7#f7 ,cov]$ transaction ,! t]m cov]$    
transaction means a pur*ase1 sale1 or   
assignm5t4  7#g7 ,engage 9 ,! t]m engage
 91 ) respect to a transaction1 means to
 ord]1 approve1 or o!rwise p]=m any act 
9 fur!rance ( t transaction4  7#h7      
,pur*ase2 sale2 security ,! t]ms        
pur*ase1 sale1 & security h ! mean+s    
giv5 ^? t]ms 9 section #c7;a7 ( !       
,securities ,ex*ange ,act ( #aicd 7#ae  
,u4,s4,c4 #gh;c7a774  7#i7 ,u4,s4 p]son 
,! t]m ,u4,s4 p]son has ! mean+ giv5 !  
t]m 9 section #abj4fb ( title #bb1 ,code
 ( ,f$]al ,regulations1 or any successor
 regulation4  7#aj7 ,willfully ,! t]m   

willfully1 ) respect to an action1 means
 t ! action is tak5 volunt>ily &        
int5tionally 9 violation ( a kn[n legal 
duty4  7b7 ,prohibition  7#a7 ,9 g5]al  
,except = ! purposes ( comply+ )        
p>agraph 7#b71 beg9n+ on ! date (       
enactm5t ( ?is ,act1 x %all be unlawful 
= any ,u4,s4 p]son to make use ( ! mails
 or any means or in/rum5tality ( comm]ce
 to engage 9 a cov]$ transaction )      
respect to a cov]$ security4  7#b7      
,dive/m5t requir$ ,n lat] ?an #ahj days 
aft] ! date ( enactm5t ( ?is ,act1 ea*  
,u4,s4 p]son %all dive/ ( all cov]$     
securities held by ! ,u4,s4 p]son4  7c7 
,p5alties ,a ,u4,s4 p]son t violates1   
attempts to violate1 conspires to       
violate1 or causes a violation ( ?is    
section %all be subject to any ( !      
foll[+ p5alties3 7#a7 ,a civil p5alty 9 
an am\nt n to exce$ ! great] (-- 7,a7   
#bej1jjj2 or  7,b7 an am\nt t is twice !
 am\nt ( ! cov]$ transaction t is !     
basis ( ! violation ) respect to :i* !  
p5alty is impos$4  7#b7 ,) respect to a 

,u4,s4 p]son t willfully violates1      
willfully attempts to violate1 willfully
 conspires to violate1 or willfully aids
 or abets 9 ! commission ( a violation (
 ?is section1 a crim9al p5alty z foll[s3
 7,a7 ,if t ,u4,s4 p]son is an          
individual n act+ 9 a pr(essional       
capacity1 a f9e ( n m ?an #a1jjj1jjj1 a 
t]m ( imprisonm5t ( n m ?an #e ye>s1 or 
bo?4  7,b7 ,if t ,u4,s4 p]son is an     
individual act+ 9 a pr(essional         
capacity1 a f9e ( n m ?an #e1jjj1jjj1 a 
t]m ( imprisonm5t ( n m ?an #bj ye>s1 or
 bo?4  7,c7 7i7 ,if t ,u4,s4 p]son is an
 organization1 includ+ any entity       
describ$ 9 clause 7ii71 a f9e ( n m ?an 
#be1jjj1jjj4  7ii7 ,an entity describ$ 9
 ?is clause is any ( ! foll[+3 7,i7 ,an 
inve/m5t company1 z def9$ 9 section #c (
 ! ,inve/m5t ,company ,act ( #aidj 7#ae 
,u4,s4,c4 #hj;a-#c74  7,,ii7 ,a bank1   
brok]1 deal]1 ex*ange1 insurance        
company1 inve/m5t bank]1 und]writ]1     
sav+s & loan association1 bus9ess       
developm5t company1 commodity pool1     

commodity pool op]ator1 commodity trad+ 
advisor1 major swap p>ticipant1 swap    
deal]1 or swap execution facility1 z ^? 
t]ms are def9$ 9 section #b7;a7 ( !     
,inve/m5t ,company ,act ( #aidj 7#ae    
,u4,s4,c4 #hj;a-#b7;a774  7,,iii7 ,an   
inve/m5t advis]1 z def9$ 9 section      
#bjb7;a7 ( ! ,inve/m5t ,advis]s ,act (  
#aidj 7#ae ,u4,s4,c4 #hj;b-#b7;a774     
7,,iv7 ,a m>ket int]m$i>y1 z def9$ 9    
section #c7;c77#b77;,b77i7 ( ! ,inve/m5t
 ,company ,act ( #aidj 7#ae ,u4,s4,c4   
#hj;a-#c7;c77#b77;,b77i774  7,v7 ,a fund
 describ$ 9 section #c7;c77#aj77;,b7 ( !
 ,inve/m5t ,company ,act ( #aidj 7#ae   
,u4,s4,c4 #hj;a-#c7;c77#aj77;,b774      
7,,vi7 ,a qualifi$ p5sion1 pr(it-%>+1 or
 /ock bonus plan describ$ 9 section #dja
 ( ! ,int]nal ,rev5ue ,code ( #aihf4    
7,,vii7 ,an individual retirem5t acc\nt1
 z def9$ 9 section #djh7;a7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf4  7,,viii7 ,a tax
 cr$it employee /ock own]%ip plan1 z    
def9$ 9 section #dji7;a7 ( ! ,int]nal   
,rev5ue ,code ( #aihf4  #d4 ,reports to 

,congress  7a7 ,9 g5]al ,9 accordance ) 
subsection 7b71 ! ,secret>y ( !         
,treasury1 9 consultation ) ! ,secret>y 
( ,comm]ce1 ! ,secret>y ( ,/ate1 !      
,secret>y ( ,def5se1 ! ,assi/ant to !   
,presid5t = ,national ,security         
,affairs1 & ! ,director ( ,national     
,intellig5ce1 %all submit to ,congress a
 report on1 = ! p]iod cov]$ by !        
report-- 7#a7 ! ext5t ( mitigation &    
elim9ation ( ! conditions describ$ 9    
section #b7;b72 &  7#b7 ! ext5t ( !     
occurr5ce ( ! conditions describ$ 9     
section #b7;b7 ) respect to securities  
li/$ on ! ,/ock ,ex*ange ( ,hong ,kong4 
7b7 ,frequ5cy ( submission ,! ,secret>y 
( ! ,treasury %all submit to ,congress a
 report describ$ 9 subsection 7a7-- 7#a7
 n lat] ?an #ij days aft] ! date (      
enactm5t ( ?is ,act2  7#b7 n lat] ?an   
#ahj days aft] ! date ( enactm5t ( ?is  
,act2 &  7#c7 once e #ahj days aft] !   
date on :i* ! ,secret>y submits ! report
 requir$ "u p>agraph 7#b7 ( ?is         
subsection4  #e4 ,annual report on      

,unit$ ,/ates portfolio inve/m5ts 9 !   
,p's ,republic ( ,*9a  7a7 ,def9itions  
,9 ?is section3 7#a7 ,*9ese entity ,!   
t]m ,*9ese entity means an entity       
organiz$ "u ! laws ( ! ,p's ,republic ( 
,*9a or o!rwise subject to !            
jurisdiction ( ! ,gov]nm5t ( ! ,p's     
,republic ( ,*9a4  7#b7 ,unit$ /ates    
p]son ,! t]m ,unit$ ,/ates p]son means--
 7,a7 a ,unit$ ,/ates citiz5 or an ali5 
lawfully admitt$ = p]man5t resid5ce to !
 ,unit$ ,/ates2 or  7,b7 an entity      
organiz$ "u ! laws ( ! ,unit$ ,/ates or 
any jurisdiction )9 ! ,unit$ ,/ates1    
includ+ a =eign bran* ( su* an entity4  
7b7 ,report ,n lat] ?an #a ye> aft] !   
date ( enactm5t ( ?is ,act1 & annually  
!reaft]1 ! ,secret>y ( ! ,treasury %all 
submit to ,congress a report on         
portfolio inve/m5ts by ,unit$ ,/ates    
p]sons 9 ! ,p's ,republic ( ,*9a1       
includ+ su* inve/m5ts r\t$ ?r\gh a      
jurisdiction outside ! ,unit$ ,/ates4   
7c7 ,elem5ts ,ea* report requir$ by     
subsection 7b7 %all include an assessm5t

 ( ! involvem5t ( ! foll[+ 9 portfolio  
inve/m5ts 9 ! ,p's ,republic ( ,*9a3    
7#a7 ,unit$ ,/ates p]sons mak+ su*      
inve/m5ts1 includ+ an assessm5t (-- 7,a7
 ! types ( ,unit$ ,/ates p]sons mak+ su*
 inve/m5ts1 includ+ ,/ate p5sion funds2 
&  7,b7 ,unit$ ,/ates p]sons mak+ m ?an 
#b p]c5t ( ! total ( su* inve/m5ts 9 a  
ye>4  7#b7 ,*9ese entities receiv+ su*  
inve/m5ts1 includ+ an assessm5t (-- 7,a7
 su* entities 9 individual sectors ( !  
economic ( ! ,p's ,republic ( ,*9a1     
includ+ ! h\s+ sector2  7,b7 any ,*9ese 
entities subject to sanctions impos$ by 
! ,unit$ ,/ates receiv+ su* inve/m5ts2 &
  7,c7 ,*9ese entities t receive m ?an  
#ajj1jjj1jjj f su* inve/m5ts4  7d7      
,p]iod cov]$ ,! p]iod cov]$ by a report 
requir$ by subsection 7b7 %all be-- 7#a7
 9 ! case ( ! fir/ su* report1 ! p]iod  
beg9n+ on ,janu>y #a1 #bjjh1 & end+ on !
 date ( ! report2 &  7#b7 9 ! case ( ea*
 subsequ5t su* report1 ! #a-ye> p]iod   
prec$+ submission ( ! report4  #f4      
,coord9ation  7a7 ,9 g5]al ,! ,secret>y 

( ! ,treasury & ! ,securities & ,ex*ange
 ,commission may coord9ate to c>ry out  
?is ,act4  7b7 ,coord9ation on          
imposition ( crim9al p5alties ,= !      
purposes ( c>ry+ out section #c7;c77#b71
 ! ,secret>y ( ! ,treasury & !          
,securities & ,ex*ange ,commission may  
coord9ate ) ! ,attorney ,g5]al4