To amend the securities laws to prohibit brokers, dealers, and investment advisers with certain connections to the People's Republic of China from registering with the Securities and Exchange Commission, and for other purposes.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 9028 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 9028 To amend the securities laws to prohibit brokers, dealers, and investment advisers with certain connections to the People's Republic of China from registering with the Securities and Exchange Commission, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES May 26, 2026 Mr. Lawler (for himself and Mr. Gottheimer) introduced the following bill; which was referred to the Committee on Financial Services _______________________________________________________________________ A BILL To amend the securities laws to prohibit brokers, dealers, and investment advisers with certain connections to the People's Republic of China from registering with the Securities and Exchange Commission, 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 ``PRC Broker-Dealers and Investment Advisers Moratorium Act''. SEC. 2. PROHIBITIONS. (a) Broker or Dealer Registration.-- (1) In general.--Section 15 of the Securities Exchange Act of 1934 (15 U.S.C. 78o) is amended by adding at the end the following: ``(p) Prohibition on Registration as a Broker or Dealer Related to Chinese Ownership.-- ``(1) Control defined.--In this subsection, the term `control' means beneficially owning, either directly or through 1 or more companies, more than 15 percent of the voting securities of an entity. ``(2) Prohibition.--A broker or dealer shall be prohibited from being registered as a broker or dealer under subsection (b) if-- ``(A) the broker or dealer is an entity organized under the laws of the People's Republic of China; ``(B) the broker or dealer is controlled by an entity organized under the laws of the People's Republic of China; ``(C) t