A bill to amend the Securities Exchange Act of 1934 to restrict persons who are not citizens of the United States from acquiring more than 35 per centum of the nonvoting securities or more than 5 per centum of the voting securities of any issuer whose securities are registered under such Act, and for other purposes.
Foreign Investors Limitation Act - Amends the Securities Exchange Act of 1934 to direct the Securities and Exchange Commission to prohibit foreign citizens and entities under their control from acquiring, directly or indirectly, more than five percent of the registered voting securities or 35 percent of the registered nonvoting securities of any issuer whose securities are registered under such Act.
Prohibits foreign citizens whose holdings exceed such percentages from acquiring any more securities of such issuer.
Directs the Commission to provide for the registration of securities acquisitions by foreign citizens.
Introduced in House
Introduced in House
Referred to House Committee on Interstate and Foreign Commerce.
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