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 require the Securities Exchange Commission (the SEC) to prohibit persons who are not U.S. citizens, or who are controlled by non-U.S. citizens, from acquiring more than either five percent of any registered voting securities or more than 35 percent of any registered nonvoting securities.
Prohibits non-citizens, or persons controlled by non-citizens, from acquiring any more registered securities if they own more than the specified percentages of such securities as of the enactment of this Act. Requires the SEC to provide for the registration of such non-citizens before such persons may acquire any registered securities.
Introduced in House
Introduced in House
Referred to House Committee on Energy and Commerce.
Referred to Subcommittee on Telecommunications, Consumer Protection and Finance.
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