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119-s-5643119th CongressWALLET

Protecting U.S. Investors From Chinese Military Companies Act

Sponsored By: Senator Scott, Rick [R-FL]

Introduced

Summary

This bill would require the Securities and Exchange Commission to indefinitely suspend trading of securities of Chinese military‑aligned companies that remain on the Department of Defense list for two annual revisions. It would also tightly limit SEC rulemaking and force notices to Congress tied to Treasury designations so lawmakers have a formal oversight channel.

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Bill Overview

Analyzed Economic Effects

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

Trading ban on Chinese military firms

If enacted, the bill would require the SEC to indefinitely suspend trading in securities of any company that stays on the Defense Department list for two annual revisions. The SEC would have to act no later than 10 days after the DoD revises the list. If a covered company is added to the Treasury OFAC Non‑SDN Chinese Military‑Industrial Complex Companies List, the SEC would instead notify the appropriate congressional committees that it did not suspend trading for that company. Investors holding those securities would be unable to trade them on the covered markets.

Limits on SEC rulemaking power

If enacted, the bill would limit the SEC to making only the rules strictly necessary to identify covered securities, run and enforce the trading suspensions, verify any exception, and notify Congress. The SEC would be barred from creating criteria for adding or removing companies from the DoD or OFAC lists, imposing extra requirements or penalties, or regulating people or transactions beyond what this section permits. The bill would also make regulations under this section exempt from chapters 5 and 7 of title 5, U.S.C., and would restrict agency authority to the purposes the section expressly authorizes.

Sponsors & CoSponsors

Sponsor

Scott, Rick [R-FL]

FL • R

Cosponsors

  • Sen. Cramer, Kevin [R-ND]

    ND • R

    Sponsored 9/30/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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