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S. 3405

U.S. Senate•In Senate Committee

Summary

S. 3405, the PRC Financial Intermediary Review Act, was introduced in the Senate on Dec 9, 2025 by Sen. David McCormick (R) with 1 co-sponsor. It was referred to Banking, Housing, And Urban Affairs, and last saw action on Dec 9, 2025: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Record

Text

S. 3405 has 1 co-sponsor.

sb3405/introduced-in-senate.txt
119 S3405 IS: PRC Financial Intermediary Review Act
 U.S. Senate
 2025-12-09
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 3405  IN THE SENATE OF THE UNITED STATES   December 9, 2025   Mr. McCormick  (for himself and  Mr. Fetterman ) introduced the following bill; which was read twice and referred to the  Committee on Banking, Housing, and Urban Affairs    A BILL
To require the Securities and Exchange Commission to conduct a study regarding certain brokers and dealers that are controlled by or organized under the laws of the People’s Republic of China, and for other purposes.
1.
Short title
This Act may be cited as the   PRC Financial Intermediary Review Act  .
2.
Study and report
Not later than 1 year after the date of the enactment of this Act, the Securities and Exchange Commission shall—
(1)
conduct a study on the transparency of, and cooperation regarding—
(A)
brokers and dealers that are—
(i)
members of a national securities association and registered with the Securities and Exchange Commission; and
(ii)
controlled by or organized under the laws of the People’s Republic of China; and
(B)
investment advisers that are registered with the Securities and Exchange Commission and controlled by or organized under the laws of the People’s Republic of China; and
(2)
submit to Congress a report that includes the results of the study conducted under paragraph (1).

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-12-09
  2. Passed Senate
  3. Passed House
  4. Conference
  5. To President
  6. Became Law

A bill to require the Securities and Exchange Commission to conduct a study regarding certain brokers and dealers that are controlled by or organized under the laws of the People's Republic of China, and for other purposes.

Sponsors

Sen. David McCormick (R) sponsors S. 3405, and 1 member has co-sponsored it from the day it was introduced.

Committees

S. 3405 went before 1 committee: Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs
Banking, Housing, and Urban Affairs
Referred To · Dec 9, 2025 · 465 Bills

Actions

S. 3405 has taken 2 actions since Dec 9, 2025.

ChamberAction
Dec 9, 2025
Senate
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.Banking, Housing, and Urban Affairs Committee
Dec 9, 2025
—
Introduced in Senate

Votes

S. 3405 has not gone to a roll call.

Titles

S. 3405 goes by 3 titles, 1 of them short titles.

  • PRC Financial Intermediary Review Act — Display Title
  • PRC Financial Intermediary Review Act — Short Title(s) as Introduced
  • A bill to require the Securities and Exchange Commission to conduct a study regarding certain brokers and dealers that are controlled by or organized under the laws of the People's Republic of China, and for other purposes. — Official Title as Introduced

Classification

The Congressional Research Service files S. 3405 under Finance and Financial Sector, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; S. 3405’s is Finance and Financial Sector.

s3405/policy-areas.txt
Finance and Financial SectorAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com