A bill to prohibit securities investments that finance certain companies of the People's Republic of China and to expand the Non-Specially Designated Nationals Chinese Military-Industrial Complex Companies List of the Office of Foreign Assets Control, and for other purposes.
Sanction Transactions Originating from Pernicious Chinese Companies and Policies Act of 2023 or the STOP CCP Act of 2023
This bill prohibits U.S. persons (generally individuals and entities subject to U.S. jurisdiction) from trading in publicly traded securities with certain ties to China and expands the list of Chinese entities subject to sanctions.
The bill prohibits the purchase or sale, or related transaction, of securities issued by any person that operates or has operated in the defense sector or the surveillance technology sector of the economy of China.
Further, the Department of the Treasury must expand the Non-Specially Designated Nationals Chinese Military-Industrial Complex Companies List maintained by the Office of Foreign Assets Control to include any entity that supports the Chinese military-industrial complex. (This list identifies individuals and entities subject to U.S. sanctions.)
Referred to the Committee on Foreign Affairs, and in addition to the Committee on Financial Services, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
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