{"database": "press", "table": "releases", "rows": [["https://riggleman.house.gov/media/press-releases/reps-riggleman-reschenthaler-and-mccaul-introduce-bill-identify-and-deter", "Reps. Riggleman, Reschenthaler, and McCaul Introduce Bill to Identify and Deter American Funding of Chinese Government Affiliates", "2020-09-29", "2020", "2020-09", "Republican", "House", "VA", "Denver Riggleman", "R000611", "riggleman.house.gov", null, null, "legacy", "Washington, D.C. -- This morning Congressman Denver Riggleman, Congressman Guy Reschenthaler, and Congressman Michael McCaul introduced H.R. 8407, the Protecting National Security in Financial Investments Act. This bill would allow the Securities and Exchange Commission (SEC) to require disclosure of investments made to companies outside of the United States.\n\t\t\t\tThis legislation would facilitate information exchange among the SEC, members of Congress, and federal agencies which will provide an essential flow of information regarding companies with connections to the Chinese Communist Party. This disclosure will also allow the SEC to determine whether any of these investments pose a threat to U.S. national security.\n\t\t\t\tI am proud to co-sponsor the Protecting National Security in Financial Investments Act which increases financial transparency and makes our country more secure, said Congressman Riggleman. The bill takes steps to bring to light any investments made into entities of the People's Republic of China (CCP)that threaten the national security of the United States, making us both safer and more aware. It is an important part of my continued work with the China Task Force to hold the CCP accountable.\n\t\t\t\tAs a Member of the China Task Force, I am proud to introduce the Protecting National Security in Financial Investments Act, which will strengthen our nation's ability to counter threats posed by Communist China, said Congressman Reschenthaler. This legislation will provide the federal government with tools to target CCP's malign efforts, protect hardworking Americans' savings and investments, and deter financial flows to foreign companies that undermine our national security. I thank Ranking Member McCaul and Congressman Riggleman for joining me in this critical effort and call on Congress to bring this bill up for a vote.\"\n\t\t\t\t\"The Chinese Communist Party and its companies are exploiting U.S. capital markets to covertly access investment dollars to fuel their malign activity, said Congressman McCaul. By requiring the disclosure of investments in companies labeled as national security threats on the Department of Commerce Entity List, the Protecting National Security in Financial Investments Act fosters greater transparency for investors and protects the national security of the United States. In this generational contest with the CCP, the United States must avoid inadvertently channeling money and resources to companies that are threatening our security.\"\n\t\t\t\tIf passed, the Protecting National Security in Financial Investments Act would require the SEC to determine whether the disclosure of information related to investments in foreign companies identified as potential threats to U.S. national security is necessary. Following that assessment, the SEC may prescribe regulations requiring a financial institution to disclose information regarding investments made to parties identified as a national security threat on the Bureau of Industry and Security (BIS) in the Department of Commerce's Entity List. Under current law, all companies and individuals designated on the Entity List are threats to U.S. national security and are subject to certain licensing requirementstypically under a presumption of denialfor technology items.\n\t\t\t\tFurther, the bill creates an additional entity list, compiled by the Department of State, of Chinese companies that have substantial relationships with the People's Liberation Army, the Chinese People's Armed Police Force, the Ministry of State Security, and the Chinese Coast Guard. This list will help identify and target additional CCP entities that threaten U.S. national security and foreign policy goals.\n\t\t\t\tCongressman Riggleman was competitively selected to join the China Task Force (CTF)in May 2020, and was named co-chair of two of the CTF Task Force Pillars; National Security and Technology. The CTF is composed of 15 members of Congress, including Republican Leader Kevin McCarthy and Republican Whip Steve Scalise. The China Task Force has spent months developing legislative solutions to identify and combat the threatposed byCommunist China.\n\t\t\t\tThe context for H.R. 8407, Protecting National Security in Financial Investments Act can be found here.\n\t\t\t\t  \n\t\t\t\t\t###", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://riggleman.house.gov/media/press-releases/reps-riggleman-reschenthaler-and-mccaul-introduce-bill-identify-and-deter"], "units": {}, "query_ms": 1.0470617562532425, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}