Sec. 219. DISCLOSURES TO THE SECURITIES AND EXCHANGE COMMISSION RELATING TO SANCTIONABLE ACTIVITIES

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## SEC. 219 DISCLOSURES TO THE SECURITIES AND EXCHANGE COMMISSION RELATING TO SANCTIONABLE ACTIVITIES ###

(a)In General 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: > > ### “(r) Disclosure of Certain Activities Relating to Iran > > > #### “(1) In general > > Each issuer required to file an annual or quarterly report under subsection

(a)shall disclose in that report the information required by paragraph

(2)if, during the period covered by the report, the issuer or any affiliate of the issuer— > > > ##### “(A) > > knowingly engaged in an activity described in subsection

(a)or

(b)of section 5 of the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note); > > > ##### “(B) > > knowingly engaged in an activity described in subsection (c)(2) of section 104 of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8513) or a transaction described in subsection (d)(1) of that section; > > > ##### “(C) > > knowingly engaged in an activity described in section 105A(b)(2) of that Act; or > > > ##### “(D) > > knowingly conducted any transaction or dealing with— > > > ###### “(i) > > any person the property and interests in property of which are blocked pursuant to Executive Order No. 13224 (66 Fed. Reg. 49079; relating to blocking property and prohibiting transactions with persons who commit, threaten to commit, or support terrorism); > > > ###### “(ii) > > any person the property and interests in property of which are blocked pursuant to Executive Order No. 13382 (70 Fed. Reg. 38567; relating to blocking of property of weapons of mass destruction proliferators and their supporters); or > > > ###### “(iii) > > any person or entity identified under section 560.304 of title 31, Code of Federal Regulations (relating to the definition of the Government of Iran) without the specific authorization of a Federal department or agency. > > > #### “(2) Information required > > If an issuer or an affiliate of the issuer has engaged in any activity described in paragraph (1), the issuer shall disclose a detailed description of each such activity, including— > > > ##### “(A) > > the nature and extent of the activity; > > > ##### “(B) > > the gross revenues and net profits, if any, attributable to the activity; and > > > ##### “(C) > > whether the issuer or the affiliate of the issuer (as the case may be) intends to continue the activity. > > > #### “(3) Notice of disclosures > > 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). > > > #### “(4) Public disclosure of information > > 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— > > > ##### “(A) > > transmit the report to— > > > ###### “(i) > > the President; > > > ###### “(ii) > > the Committee on Foreign Affairs and the Committee on Financial Services of the House of Representatives; and > > > ###### “(iii) > > the Committee on Foreign Relations and the Committee on Banking, Housing, and Urban Affairs of the Senate; and > > > ##### “(B) > > 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. > > > #### “(5) Investigations > > Upon receiving a report under paragraph

(4)that includes a disclosure of an activity described in paragraph

(1)(other than an activity described in subparagraph (D)(iii) of that paragraph), the President shall— > > > ##### “(A) > > initiate an investigation into the possible imposition of sanctions under the Iran Sanctions Act of 1996 (Public Law 104-172; 50 U.S.C. 1701 note), section 104 or 105A of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010, an Executive order specified in clause

(i)or

(ii)of paragraph (1)(D), or any other provision of law relating to the imposition of sanctions with respect to Iran, as applicable; and > > > ##### “(B) > > not later than 180 days after initiating such an investigation, make a determination with respect to whether sanctions should be imposed with respect to the issuer or the affiliate of the issuer (as the case may be). > > > #### “(6) Sunset > > The provisions of this subsection shall terminate on the date that is 30 days after the date on which the President makes the certification described in section 401(a) of the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (22 U.S.C. 8551(a)).” > . ###

(b)Effective Date **[**[15 U.S.C. 78m note](/us/usc/t15/s78m)**]** 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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