# 119-s-3562: Disclosing Investments in Foreign Adversaries Act of 2025

119-s-3562, Disclosing Investments in Foreign Adversaries Act of 2025, is a 119th Congress bill sponsored by Sen. Scott, Rick [R-FL] (R-FL); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-s-3562
- 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-3562
- Congress: 119
- Title: Disclosing Investments in Foreign Adversaries Act of 2025
- Status: introduced
- Introduced: 2025-12-18
- Sponsor: Sen. Scott, Rick [R-FL] (R-FL)
- Cosponsors: 1
- Policy area: Finance and Financial Sector
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Requires annual disclosure of private-fund and exempt-offering exposure to jurisdictions controlled by foreign adversaries.** This bill would force large private-fund advisers and certain issuers using exempt securities offerings to report holdings, ownership, and planned uses of proceeds tied to 'countries of concern'. - Advisers managing at least $150 million in private-fund assets, or advisers relying on certain registration exemptions, must file annual reports with the SEC showing total private-fund assets in each country of concern and the percentage breakdown by country. The bill defines when a portfolio company counts based on where it operates and where its assets and liabilities sit. - Issuers using specified exempted transactions must disclose issuer identity, place of incorporation, beneficial owners, amount sold, net proceeds, and intended use of proceeds by country and industry when offers meet a $25 million deal threshold or $50 million in a year. The SEC can set rules and limit future use of exemptions for noncompliant issuers. - The SEC must publish aggregated lists of advisers reporting exposure within one year and at least annually after that and must publish quarterly public reports of issuer submissions tied to countries of concern. These disclosures aim to make capital flows to high-risk foreign jurisdictions visible to regulators and investors.

## Cosponsors (1)

- Sen. Fetterman, John [D-PA] (D-PA), 2025-12-18T00:00:00.000Z

## Provisions PRIA read

- Annual private fund adviser reports: mixed, medium. If enacted, this bill would make the SEC treat some advisers as "covered investment advisers." That includes registered advisers whose adviser plus related persons manage at least $150,000,000 in private fund assets, and certain exempt advisers. Covered advisers would have to file a yearly report s…
- New disclosure for large exempt offerings: mixed, medium. If enacted, this bill would require issuers doing certain exempt securities sales to give the SEC detailed disclosures for big deals. The rule targets exempt offerings structured under common exemptions (like certain Regulation D, Regulation S, or Rule 144A deals) when a single sale is $25,000,000…

## Related bills

- 119-s-1541: SHIPS for America Act of 2025
- 119-s-2120: Older Americans Act Reauthorization Act of 2025
- 119-s-1748: Kids Online Safety Act
- 119-s-2355: Patients Deserve Price Tags Act
- 119-s-554: United States-Israel Defense Partnership Act of 2025
- 119-s-5025: Lindsey O. Graham Sanctioning Russia Act of 2026

## Sources
- [119-s-3562 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/3562)

## Related
- [119-s-1541: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-s-1541)
- [119-s-2120: Older Americans Act Reauthorization Act of 2025](https://policyrisk.com/legislation/119-s-2120)
- [119-s-1748: Kids Online Safety Act](https://policyrisk.com/legislation/119-s-1748)
- [119-s-2355: Patients Deserve Price Tags Act](https://policyrisk.com/legislation/119-s-2355)
- [119-s-554: United States-Israel Defense Partnership Act of 2025](https://policyrisk.com/legislation/119-s-554)
- [119-s-5025: Lindsey O. Graham Sanctioning Russia Act of 2026](https://policyrisk.com/legislation/119-s-5025)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-3562 (as of 2026-04-21).