119-s1357

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1357 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 1357

To amend the Securities Exchange Act of 1934 to address the issuance of 
 securities by Chinese entities, and for other purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 April 8, 2025

 Mr. Scott of Florida (for himself, Mrs. Blackburn, Mr. Cassidy, Mrs. 
 Hyde-Smith, and Mr. Kennedy) introduced the following bill; which was 
read twice and referred to the Committee on Banking, Housing, and Urban 
 Affairs

_______________________________________________________________________

 A BILL

To amend the Securities Exchange Act of 1934 to address the issuance of 
 securities by Chinese entities, and for other purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Secure America's Financial Exchanges 
Act'' or the ``SAFE Act''.

SEC. 2. SECURITIES.

    (a) In General.--

Section 6

    (b) of the Securities Exchange Act of 
1934 (15 U.S.C. 78f

    (b) ) is amended by adding at the end the following:
 ``

    (11) The rules of the exchange require an issuer, before 
 the initial listing of any security of the issuer on the 
 exchange, and in each annual report filed with the Commission 
 and the exchange under 

section 13

    (a) , to disclose the following 
 information:
 ``
        (A) Whether the Government of the People's 
 Republic of China has provided the issuer with any 
 financial support, including--
 ``
            (i) any direct subsidy, grant, loan, loan 
 guarantee, tax concession, or benefit with 
 respect to procurement policy; or
 ``
            (ii) any other form of support.
 ``
        (B) If the Government of the People's Republic of 
 China has provided support described in subparagraph
        (A) , the conditions under which that Government 
 provided that support, including whether that 
 Government required the issuer to--
 ``
            (i) satisfy certain requirements with 
 respect to exports;
 ``
            (ii) purchase items from certain 
 entities;
 ``
            (iii) use certain intellectual property; 
 or
 ``
            (iv) employ members of the Chinese 
 Communist Party or other employees of that 
 Government.
 ``
            (C) Whether there are any committees of the 
 Chinese Communist Party established within the issuer, 
 which shall include the disclosure of--
 ``
            (i) which employees of the issuer 
 comprise that committee; and
 ``
            (ii) the roles played by the employees 
 described in clause
            (i) .
 ``
            (D) Information regarding each individual who, as 
 of the date on which the disclosure is made, is an 
 officer or director of the issuer (or a subsidiary of 
 the issuer) and holds, or previously held, a position 
 with the Chinese Communist Party or the Government of 
 the People's Republic of China, including the title of 
 that position and the geographic location in which the 
 individual holds or held that position, as 
 applicable.''.

    (b) Rules.--Not later than 180 days after the date of enactment of 
this Act, the Securities and Exchange Commission shall make any 
amendments to the rules of the Commission that are necessary as a 
result of the amendments made by subsection

    (a) .
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