What does Preamble of PRC Broker-Dealers and Investment Advisers Moratorium Act do?

This bill aims to amend securities laws. It proposes to prohibit brokers, dealers, and investment advisers with connections to the People's Republic of China from registering with the Securities and Exchange Commission. The bill is referred to the Committee on Financial Services.

What does SHORT TITLE. of PRC Broker-Dealers and Investment Advisers Moratorium Act do?

This bill is formally titled the ``PRC Broker-Dealers and Investment Advisers Moratorium Act''.

What does PROHIBITIONS. of PRC Broker-Dealers and Investment Advisers Moratorium Act do?

This section amends the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to prohibit registration as a broker or dealer or investment adviser under certain circumstances related to Chinese ownership. The prohibition applies if an entity is organized under the laws of the People's Republic of China, controlled by an entity or national of the People's Republic of China, or utilizes an affiliate based in the People's Republic of China for specific services. Services that trigger the prohibition include platform infrastructure, network services, software or product development, maintenance, or support for brokers and dealers, and software development, product development, or customer service for investment advisers. The term 'control' is defined as beneficially owning more than 15 percent of the voting securities of an entity. These prohibitions are scheduled to terminate five years after the date of enactment of this Act.

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PRC Broker-Dealers and Investment Advisers Moratorium Act

Last updated: 5/26/2026 · Introduced: 5/26/2026

Author: Michael Lawler (R-NY)

TL;DR (AI)

This bill prohibits brokers, dealers, and investment advisers with significant ties to the People's Republic of China from registering with the Securities and Exchange Commission.
Entities organized in China, controlled by Chinese nationals, or using Chinese affiliates for key services like software development or customer support are subject to this prohibition.
The registration prohibition will remain in effect for five years following the bill's enactment.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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