A bill 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 50 percent or more of equitable ownership in such person; or (2) such principal, subject to rebuttal evidence, holds at least 20 percent but less 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 15 and July 15 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: (1) have failed to file such registration statements; or (2) have omitted a material fact or made false statements on such registration statements.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 6 October 1988

  Open at official source

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