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119-s-2048119th CongressWALLET

PRC Military and Human Rights Capital Markets Sanctions Act of 2025

Sponsored By: Senator Ricketts, Pete [R-NE]

Introduced

Summary

Block U.S. investment in PRC military and human-rights–linked companies. The bill would require the President to publish a consolidated list of covered entities, bar U.S. persons from buying, selling, or holding their publicly traded securities or related derivatives, and impose mandatory divestment deadlines.

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  • U.S. investors and households would be prohibited from owning or trading publicly listed securities or derivatives tied to covered entities and must divest within 180 days after a security is identified or after enactment if identified earlier.
  • Banks, brokers, asset managers, and funds would have to use a government-maintained public list with unique identifiers that the President must compile within 90 days. Firms may temporarily hold securities only to facilitate divestment under a limited carve-out.
  • The bill sets strong penalties. Civil fines are the greater of $250,000 or twice the transaction amount. Willful criminal violations can bring fines up to $1 million and up to 20 years in prison for individuals.
  • The definition of “covered entity” is broad. It links to multiple U.S. sanction and export-control lists, including OFAC Specially Designated Nationals, the NS-CMIC list, the Department of Defense Chinese military list, the BIS Entity List, Uyghur Forced Labor lists, and the Military End-User List.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 1 costs, 0 mixed.

Ban on Chinese-linked securities for U.S. investors

If enacted, the President would publish one public list of "covered entities" within 90 days. Covered entities would include many Chinese firms on U.S. sanctions and export-control lists and firms under common ownership or control. If enacted, United States persons would be banned from buying, selling, or holding publicly traded securities tied to those entities, including derivatives and funds that give exposure. U.S. persons would have to divest covered holdings within 180 days (the clock runs from enactment if listed in the first 90 days). The ban would not stop actions that only facilitate divestment. Civil penalties would be the greater of $250,000 or twice the transaction amount. Willful violations could bring fines up to $1,000,000 and up to 20 years in prison. "United States person" would include U.S. citizens, lawful permanent residents, entities organized under U.S. law (including foreign branches), and anyone located in the United States.

Sponsors & CoSponsors

Sponsor

Ricketts, Pete [R-NE]

NE • R

Cosponsors

  • Sen. McCormick, David [R-PA]

    PA • R

    Sponsored 6/4/2026

Roll Call Votes

No roll call votes available for this bill.

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