A bill to amend the Export Administration Act of 1969 to strengthen the antiboycott provisions of such act, to amend the Securities Exchange Act of 1934 to enhance investor disclosure provisions of that act.

Summary

Title I: Foreign Boycotts - Foreign Boycotts Act - Amends the Export Administration Act of 1969 with respect to the policy of the United States regarding restrictive trade boycotts by foreign countries against countries friendly to the United States. Requires the Secretary of Commerce to implement regulations to require domestic concerns which receive requests for information or requests to take actions to further or support restrictive trade boycotts to transmit to the Secretary of Commerce a report of such request. Requires the Secretary of Commerce to implement rules to prohibit domestic concerns from furnishing information regarding race, religion, sex, or national origin of specified persons where such information is sought to implement restrictive trade practices. Permits the imposition of a fine not to exceed $10,000 for violation of such regulations. Title II: Disclosure-Domestic and Foreign Investment Improved Disclosure Act - Amends the Securities Exchange Act of 1934 to require reports filed pursuant to acquisition of specified securities to disclose the residence, nationality, and nature of ownership of the purchasers. Requires the disclosure of the identity, nationality, and residence of a person holding a percentage of specified types of securities. Permits restriction of transfers, voting rights, payment of dividends, or sale of such securities for violation of disclosure regulations. Prohibits a broker, dealer, or bank to use the mails or interstate commerce to effectuate transfers of securities when required disclosure has not been filed.

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Documents

1 official file

• Introduced in House

  summary · EN · 9 April 1976

  Open at official source

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