A bill to amend the Securities Exchange Act of 1934 to require notification by foreign investors of proposed acquisitions of equity securities of United States companies, to authorize the President to prohibit any such acquisition as appropriate for the national security, to further the foreign policy, or to protect the domestic economy of the United States, to require issuers of registered securities to maintain and file with the Securities and Exchange Commission a list of the names and nationalities of the beneficial owners of their equity securities.
Foreign Investment Act - Requires notification under the Securities Exchange Act of 1934 by foreign investors of proposed acquisitions of more than 5 percent of the equity securities of United States companies and, if the assets of such company exceed $1,000,000, requires that such notification be given at least 30 days before acquisition. Authorizes the President to prohibit any such acquisition as appropriate for the national security, to further the foreign policy, or to protect the domestic economy of the United States.
Requires issuers of registered securities to maintain and file with the Securities and Exchange Commission a list of the names and nationalities of the beneficial owners of their equity securities. Confers on Federal district courts the jurisdiction to enjoin foreign investors, or to enforce compliance by such investors, with respect to the notification provisions of this Act.
Referred to House Committee on Interstate and Foreign Commerce.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
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