{"database": "press", "table": "releases", "rows": [["https://www.fetterman.senate.gov/fetterman-mccormick-introduce-legislation-to-target-prc-financial-firms-protect-u-s-economic-security/", "Fetterman, McCormick Introduce Legislation To Target PRC Financial Firms & Protect U.S Economic Security", "2025-08-06", "2025", "2025-08", "Democrat", "Senate", "PA", "John Fetterman", "F000479", "www.fetterman.senate.gov", "fetterman", "https://www.fetterman.senate.gov/press-release/", "scraper", "WASHINGTON, D.C. \u2013 Senators John Fetterman (D-PA) and Dave McCormick (R-PA) introduced S. 2552, the PRC Broker-Dealers and Investment Advisers Moratorium Act,to protect Pennsylvanians, U.S. markets, and national economic security. This legislation is in response to growing concerns regarding the unequal regulatory landscape between the United States and the People\u2019s Republic of China (PRC) that exposes U.S. financial markets and consumer data to risk from Chinese Communist Party (CCP)-linked firms.\n\n\u201cPennsylvanians don\u2019t want their hard\u2011earned savings snooped on or manipulated by the Chinese Communist Party. This bipartisan bill slams the brakes on CCP\u2011linked broker\u2011dealers and investment advisers until our regulators can give them a full, no\u2011nonsense inspection,\u201d said Senator Fetterman. \u201cProtecting American investors and our economic security isn\u2019t a partisan fight, and I\u2019m proud to team up with Senator McCormick to get it done.\u201d\n\n\u201cThe PRC Broker-Dealers and Investment Advisers Moratorium Act recognizes that CCP-linked firms pose an inherent risk to our financial system,\u201d said Senator McCormick. \u201cThis bill gives the financial regulators necessary time to evaluate the impact on U.S. consumer protection and protects the U.S. retail investor.\u201d\n\nWhile China restricts access of U.S. firms to its retail financial market, U.S. markets are more fully open for business to Chinese affiliates. These Chinese affiliates have access to millions of Americans\u2019 personally identifiable information and sensitive data. Further, U.S. regulators, including the SEC and FINRA, do not have the authority to conduct enforcement actions or examinations in mainland China.\n\nWith the landscape of retail investing and market innovations quickly changing, the U.S. must act quickly to guard against the further intrusion of CCP-linked entities into our markets.", 1, "2026-03-30T01:40:41Z", "2026-04-06T19:02:47Z"]], "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://www.fetterman.senate.gov/fetterman-mccormick-introduce-legislation-to-target-prc-financial-firms-protect-u-s-economic-security/"], "units": {}, "query_ms": 2.2371001541614532, "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"}