Sec. 3. Transaction review process
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The Secretary, acting through the Office of Information and Communications Technology and Services, shall review ICTS transactions according to the following procedures: The Secretary may review any ICTS transaction that the Secretary suspects poses an undue or unacceptable risk. In reviewing an ICTS transaction described in paragraph
(1)the Secretary may do the following: Require any person subject to the jurisdiction of the United States to furnish under oath, in the form of a report or otherwise, at any time as may be required by the Secretary, complete information relative to any such transaction. Require that any such report take a particular form as directed in a request, regulation, or other guidance provided by the Secretary, which may be required before, during, or after any such transaction. Through any agency, conduct investigations, hold hearings, administer oaths, examine witnesses, receive evidence, take depositions, and require by subpoena the attendance and testimony of witnesses and the production of any book, contract, letter, paper, and other hard copy or document relating to any matter under investigation, regardless of whether any such report has been required or filed. If the Secretary finds that a covered ICTS transaction poses an undue or unacceptable risk under subsection (a), the Secretary shall mitigate the undue or unacceptable risk described in paragraph
(2)or prohibit such transaction. The Secretary may choose to mitigate any undue or unacceptable risk posed by a covered ICTS transaction reviewed under subsection (a). To mitigate the undue or unacceptable risk, the Secretary may do any of the following with regard to any party to a covered ICTS transaction: Negotiate, enter into or impose, and enforce any agreement or condition with any such party. Require adherence to certain cybersecurity standards and other mitigation requirements determined to be necessary by the Secretary. Require the exclusion (in whole or in part) of certain components, including physical parts or hardware, software, digital services, and digital components, of any ICTS or any sub-component of ICTS from any such transaction. Anything else the Secretary determines to be appropriate or necessary to mitigate the undue or unacceptable risks. If the Secretary determines that the undue or unacceptable risk posed by a covered ICTS transaction cannot be effectively mitigated for any reason as determined by the Secretary, the Secretary— may prohibit the covered ICTS transaction; shall notify any party subject to the covered ICTS transaction review of the prohibition; and may publish any such prohibition in the Federal Register.