To amend the Foreign Agents Registration Act of 1938 to strengthen the registration and enforcement requirements of that Act.

Summary

Amends the Foreign Agents Registration Act of 1938 to declare that a foreign principal shall be considered to control a person in major part if: (1) such principal holds more than 50 percent of equitable ownership in such person; or (2) such principal, subject to rebuttal evidence, holds at least 20 percent but not more than 50 percent of equitable ownership in such person. Requires agents of foreign principals who have filed registration statements to file supplements to such statements with the Attorney General on January 31 and July 31 of each year. Repeals a provision exempting agents of foreign principals who are qualified to practice law from filing registration statements. Imposes civil penalties upon persons who have: (1) failed to file such registration statements; or (2) omitted a material fact or made false statements on such registration statements.

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2 official files

• Introduced in House (text)

  Introduced in House · EN

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• Introduced in House

  summary · EN · 9 March 1989

  Open at official source

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