Sec. 302. Disclosures to Securities and Exchange Commission relating to sanctionable activities
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Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) is amended by adding at the end the following new subsection: Each issuer required to file an annual or quarterly report under subsection
(a)shall include with such report a statement of whether, during the period since the issuer made the last such report, the issuer or any affiliate of the issuer— was designated under section 104 of the North Korea Sanctions Enforcement Act of 2013, or engaged in any of the activities described in section 104(a) of such Act; or knowingly conducted any transaction or dealing with any person designated pursuant to subsection (a), (b), (c), or
(d)of section 104 of the North Korea Sanctions Enforcement Act of 2013. If an issuer reports under paragraph
(1)that the issuer or an affiliate of the issuer has engaged in any activity described in that paragraph, the issuer shall include with the statement required under that paragraph a detailed description of each such activity, including— the nature and extent of the activity; the revenues and profits, if any, attributable to the activity; and whether the issuer or the affiliate of the issuer (as the case may be) intends to continue the activity. When the Commission receives a report under paragraph
(1)from an issuer that the issuer or an affiliate of the issuer has engaged in any activity described in that paragraph, the President shall— initiate an investigation into the possible imposition of sanctions under the North Korea Sanctions Enforcement Act of 2013, the International Emergency Economic Powers Act ( 50 U.S.C. 1701 et seq. ), Executive Order 13224, Executive Order 13382, Executive Order 13551, Executive Order 13570, or any other provision of law; and not later than 180 days after initiating such an investigation, make such determinations as are required by section 104 of the North Korea Sanctions Enforcement Act of 2013. . The amendment made by subsection
(a)shall take effect with respect to reports required to be filed with the Securities and Exchange Commission after a date that is 90 days after the date of the enactment of this Act.
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Sec. 302
Disclosures to Securities and Exchange Commission relating to sanctionable activities
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