HR 747
118th Congress
House
Finance and Financial Sector
Asia
China
Securities
U.S. and foreign investments
No Chinese Communist SURPRISE Parties Act
Introduced: February 2, 2023
Introduced by:
Tenney, Claudia
Republican
· New York
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 2, 2023
Referred to the House Committee on Financial Services.
Feb 2, 2023
Introduced in House
Plain-English summary
No Chinese Communist Subterfuge via Unregistered Regime Presence Rendered Invisible to Shareholders and Equivalent Parties Act or the No Chinese Communist SURPRISE Parties Act
This bill requires issuers of securities to annually disclose whether the issuer has established or maintained an organization of the Chinese Communist Party, if an organization of the Chinese Communist Party has participated in the operations of the issuer, and whether the issuer's board of directors (1) owes a fiduciary duty to the issuer and shareholders, and (2) is subject to heightened scrutiny with respect to conflicted controller transactions.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1