This legislative proposal aims to amend existing securities laws by imposing a temporary moratorium on the registration of certain financial entities with the Securities and Exchange Commission. Specifically, it seeks to prohibit broker-dealers and investment advisers that have significant connections to the People's Republic of China (PRC) from obtaining or maintaining their registration. The bill defines "control" as beneficially owning more than 15 percent of an entity's voting securities. Under its provisions, registration would be denied if the entity is organized under PRC laws, or if it is controlled by a PRC-organized entity or a PRC national residing in the PRC . Furthermore, a prohibition would apply if an associated person or affiliate organized under PRC laws provides critical services such as platform infrastructure, network services, software development, or customer support. These prohibitions are not permanent; the bill includes a sunset clause, stipulating that all new subsections added to the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 will be automatically terminated five years after the date of the Act's enactment.