H.R. 8800

Referred to Committee

American Financial Markets Integrity and Security Act

Introduced 11/20/2020•116th Congress•House

Latest Action

Referred to the Committee on Financial Services, and in addition to the Committees on Foreign Affairs, Ways and Means, Armed Services, Education and Labor, Intelligence (Permanent Select), and Oversight and Reform, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

11/20/2020 • House

Summary

American Financial Markets Integrity and Security Act

This bill generally prohibits investments in certain Chinese military companies and entities reasonably believed to be involved in activities contrary to the national security or foreign policy interests of the United States. These entities may not sell securities to U.S. markets. Investment companies, insurance companies, and retirement plans are prohibited from investing in these entities. The bill also prohibits the use of federal funds to enter into or renew a contract with these entities.

Furthermore, the Department of Commerce and the Office of the Director of National Intelligence—in addition to the Department of Defense as under current law—are allowed to add entities to the list of Chinese military companies.

Introduced in House • 11/20/2020

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Topics & Subjects

Policy Area: Finance and Financial Sector

AsiaChinaCongressional oversightCorporate finance and managementEmployee benefits and pensionsFinancial services and investmentsForeign and international corporationsGovernment studies and investigationsIncome tax deferralInsurance industry and regulationIntelligence activities, surveillance, classified informationInternational monetary system and foreign exchangeMilitary civil functionsMilitary procurement, research, weapons developmentSecuritiesU.S. and foreign investments