S 2552
PRC Broker-Dealers and Investment Advisers Moratorium Act
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- Passed Senate
- Passed House
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- Became Law
Bill overview
This bill, the PRC Broker-Dealers and Investment Advisers Moratorium Act, restricts the involvement of U.S. financial firms with connections to the People’s Republic of China. It prohibits brokers and dealers from being members of national securities associations and investment advisers from registering with the Securities and Exchange Commission if they are controlled by entities or individuals linked to China. These restrictions are set to expire in five years, providing a temporary measure to address concerns about potential risks associated with Chinese ownership and control in the U.S. financial sector.
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