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PRC Financial Intermediary Review Act

USA119th CongressS-3405| Senate 
| Updated: 12/9/2025
David McCormick

David McCormick

Republican Senator

Pennsylvania

Cosponsors (1)
John Fetterman (Democratic)

Banking, Housing, and Urban Affairs Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This legislation mandates that the Securities and Exchange Commission (SEC) undertake a comprehensive study concerning certain financial intermediaries operating in the United States. Specifically, the study will focus on brokers, dealers, and investment advisers that are either controlled by or organized under the laws of the People's Republic of China and are registered with the SEC. The primary objective of this study is to assess the transparency and cooperation of these Chinese-linked entities within the U.S. financial markets. Within one year of the bill's enactment, the SEC is required to submit a detailed report of its findings and conclusions to Congress, outlining the results of this examination.
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Timeline
Dec 9, 2025
Introduced in Senate
Dec 9, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • December 9, 2025
    Introduced in Senate


  • December 9, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Finance and Financial Sector

PRC Financial Intermediary Review Act

USA119th CongressS-3405| Senate 
| Updated: 12/9/2025
This legislation mandates that the Securities and Exchange Commission (SEC) undertake a comprehensive study concerning certain financial intermediaries operating in the United States. Specifically, the study will focus on brokers, dealers, and investment advisers that are either controlled by or organized under the laws of the People's Republic of China and are registered with the SEC. The primary objective of this study is to assess the transparency and cooperation of these Chinese-linked entities within the U.S. financial markets. Within one year of the bill's enactment, the SEC is required to submit a detailed report of its findings and conclusions to Congress, outlining the results of this examination.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Dec 9, 2025
Introduced in Senate
Dec 9, 2025
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
  • December 9, 2025
    Introduced in Senate


  • December 9, 2025
    Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
David McCormick

David McCormick

Republican Senator

Pennsylvania

Cosponsors (1)
John Fetterman (Democratic)

Banking, Housing, and Urban Affairs Committee

Finance and Financial Sector

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted