When the President notifies Congress of a threat to Taiwan from the People's Republic of China, the policy is to exclude Chinese representatives from meetings of major global financial organizations such as the G20 , BIS , FSB , Basel Committee , IISA , and IOSCO . The Treasury Secretary , the Federal Reserve Board , and the SEC are directed to enforce this exclusion. A waiver may be granted by the President after a report to the House Financial Services and Senate Banking Committees stating it is in national interest. The act remains in force for five years unless the President declares earlier termination. The policy aims to protect Taiwan ’s security and U.S. interests by limiting Chinese influence in international finance. Exclusion applies to participation in meetings, proceedings, and other activities of the listed organizations. The act includes a sunset clause to ensure it does not persist beyond its intended period.