Sec. 6. Disclosure and transparency of untrusted communications equipment
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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 disclose in that report the information required in paragraph
(2)if, during the period covered by the report, the issuer or any affiliate of the issuer used or contracted to use covered telecommunications equipment or services. If an issuer or affiliate of the issuer has engaged in an activity described in paragraph (1), the issuer shall disclose such activity, including a detailed description of— whether the covered telecommunications equipment or services are being used in a mobile network run by the issuer, and whether those equipment or services were used in the core or periphery of the network; whether the covered telecommunications equipment or services were used for cloud computing or data storage; whether any covered telecommunications equipment or services were replaced with other vendors; and whether the issuer is currently engaging in negotiations or planning to contract to use additional covered telecommunications equipment or services. If an issuer reports under paragraph
(1)that the issuer or an affiliate of the issuer has knowingly engaged in any activity described in that paragraph, the issuer shall separately file with the Commission, concurrently with the annual or quarterly report under subsection (a), a notice that the disclosure of that activity has been included in that annual or quarterly report that identifies the issuer and contains the information required by paragraph (2). Upon receiving a notice under paragraph
(3)that an annual or quarterly report includes a disclosure of an activity described in paragraph (1), the Commission shall promptly— transmit the report to— the President; the Committees on Foreign Affairs, Energy and Commerce, and Financial Services of the House of Representatives; and the Committees on Foreign Relations, Commerce, Science, and Transportation, and Banking, Housing, and Urban Affairs of the Senate; and make the information provided in the disclosure and the notice available to the public by posting the information on the Internet website of the Commission. In this subsection, the term covered telecommunications equipment or service has the meaning given to the term covered communications equipment or service in section 9 of the Secure and Trusted Communications Network Act of 2019 ( 47 U.S.C. 1608 ). . The amendment made by subsection
(a)shall take effect with respect to reports required to be filed with the Securities and Exchange Commission after the date that is 180 days after the date of the enactment of this Act.
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