# 119-s-2552: PRC Broker-Dealers and Investment Advisers Moratorium Act

119-s-2552, PRC Broker-Dealers and Investment Advisers Moratorium Act, is a 119th Congress bill sponsored by Sen. McCormick, David [R-PA] (R-PA); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-2552
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-2552
- Congress: 119
- Title: PRC Broker-Dealers and Investment Advisers Moratorium Act
- Status: introduced
- Introduced: 2025-07-30
- Sponsor: Sen. McCormick, David [R-PA] (R-PA)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**A temporary ban on certain People's Republic of China (PRC)-connected ownership or control of U.S. broker-dealers and investment advisers.** The bill would block firms that are controlled by PRC entities or PRC-resident nationals, or that rely on PRC-organized affiliates for essential services, from membership or registration while the restrictions are in force. - Brokers and dealers: Prohibits a broker or dealer from being a member of a national securities association if it is controlled by an entity organized under PRC law, controlled by a PRC national who resides in the PRC, or has a PRC affiliate that provides essential services like software or customer support. "Control" is defined as owning more than 25% of voting securities. - Investment advisers: Bars registration as an investment adviser under the same ownership and affiliate conditions, using the same definitions and the same >25% control threshold. - Oversight and duration: Grants national securities associations and the Securities and Exchange Commission authority to examine members and advisers as needed, including books and facilities located in foreign countries. The prohibitions include a built-in sunset and end five years after enactment.

## Cosponsors (1)

- Sen. Fetterman, John [D-PA] (D-PA), 2025-07-30T00:00:00.000Z

## Provisions PRIA read

- Ban China-controlled brokers and advisers: mixed, medium. If enacted, this would bar broker-dealers and investment advisers controlled by China from U.S. registration or national association membership. Control means beneficial ownership of more than 25 percent of voting securities. It also bans firms controlled by PRC nationals living in China, or with C…

## Related bills

- 119-s-1541: SHIPS for America Act of 2025
- 119-s-3597: National Quantum Initiative Reauthorization Act of 2026
- 119-s-2120: Older Americans Act Reauthorization Act of 2025
- 119-s-4610: Pacific POWER Act
- 119-s-1748: Kids Online Safety Act
- 119-s-938: Joint Task Force to Counter Illicit Synthetic Narcotics Act of 2025

## Sources
- [119-s-2552 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/2552)

## Related
- [119-s-1541: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-s-1541)
- [119-s-3597: National Quantum Initiative Reauthorization Act of 2026](https://policyrisk.com/legislation/119-s-3597)
- [119-s-2120: Older Americans Act Reauthorization Act of 2025](https://policyrisk.com/legislation/119-s-2120)
- [119-s-4610: Pacific POWER Act](https://policyrisk.com/legislation/119-s-4610)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-938: Joint Task Force to Counter Illicit Synthetic Narcotics Act of 2025](https://policyrisk.com/legislation/119-s-938)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-2552 (as of 2026-04-21).