No Chinese Communist SURPRISE Parties Act
United States117th CongressS-3598Senate
Updated: Feb 8, 2022
Summary
No Chinese Communist Subterfuge via Unregistered Regime Presence Rendered Invisible to Shareholders and Equivalent Parties Act or the No Chinese Communist SURPRISE Parties Act This bill requires issuers of securities to annually disclose whether the issuer has established or maintained an organization of the Chinese Communist Party, if an organization of the Chinese Communist Party has participated in the operations of the issuer, and whether the issuer's board of directors (1) owes a fiduciary duty to the issuer and shareholders, and (2) is subject to heightened scrutiny with respect to conflicted controller transactions.
Bill texts
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Timeline
Latest companion bill action
HR-6650: No Chinese Communist SURPRISE Parties ActReferred to the House Committee on Financial Services.
Introduced in Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Senate
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