US Congress House Bill 740 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on February 16 2011 - 25% progression, died in committee
Action: 2011-03-23 - Referred to the Subcommittee on International Monetary Policy and Trade.
Pending: House Subcommittee on International Monetary Policy and Trade Committee
Text: Latest bill text (Introduced) [PDF]

Iran Transparency and Accountability Act of 2011 - Amends the Securities Exchange Act of 1934 to require securities issuers to disclose in their mandatory annual or quarterly reports to the Securities and Exchange Commission (SEC) whether they or their affiliates have: (1) engaged in certain activities relating to Iran, terrorism, and the proliferation of weapons of mass destruction; (2) knowingly engaged in specified activities, or knowingly violated certain regulations prescribed under the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010; (3) knowingly conducted any transaction or dealing with a person whose property and interests in property are blocked by certain Executive Orders; or (4) knowingly conducted a transaction or dealing with any person listed in the Iranian Transactions Regulations. Specifies the contents of mandatory disclosures. Requires the President to: (1) initiate an investigation into the possible imposition of sanctions when the SEC receives a report that an issuer or its affiliate has engaged in the cited activities; and (2) determine within 180 days of initiating an investigation whether sanctions should be imposed on the issuer or the affiliate concerned. Directs the SEC to make publicly available the information it has received, and to provide it to the President and to certain congressional committees. Requires promulgation within 90 days after enactment of this Act of regulations governing financial institutions maintaining accounts for foreign financial institutions.

Iran Transparency and Accountability Act of 2011

Rep. Theodore Deutch [D-FL]	Rep. Gary Ackerman [D-NY]	Rep. Shelley Berkley [D-NV]	Rep. Rob Bishop [R-UT]
Rep. Kevin Brady [R-TX]	Rep. Dan Burton [R-IN]	Rep. Jason Chaffetz [R-UT]	Rep. David Cicilline [D-RI]
Rep. Jim Costa [D-CA]	Rep. Eliot Engel [D-NY]	Rep. Jeff Fortenberry [R-NE]	Rep. Elton Gallegly [R-CA]
Rep. Michael Grimm [R-NY]	Sen. Dean Heller [R-NV]	Rep. Tim Holden [D-PA]	Rep. Rush Holt [D-NJ]
Rep. Randy Hultgren [R-IL]	Rep. William Keating [D-MA]	Rep. Adam Kinzinger [R-IL]	Rep. Patrick McHenry [R-NC]
Sen. Christopher Murphy [D-CT]	Rep. Jerrold Nadler [D-NY]	Rep. William Owens [D-NY]	Rep. Jared Polis [D-CO]
Rep. Dennis Ross [R-FL]	Rep. Steven Rothman [D-NJ]	Rep. Brad Sherman [D-CA]	Rep. Heath Shuler [D-NC]
Rep. Albio Sires [D-NJ]	Rep. Louise Slaughter [D-NY]	Rep. Steve Stivers [R-OH]	Rep. Betty Sutton [D-OH]
Rep. Patrick Tiberi [R-OH]	Rep. Debbie Wasserman Schultz [D-FL]	Rep. Allen West [R-FL]	Rep. Robert Wittman [R-VA]
Rep. C.W. Young [R-FL]	Sen. Todd Young [R-IN]

Date	Chamber	Action
2011-03-23	House	Referred to the Subcommittee on International Monetary Policy and Trade.
2011-03-23	House	Referred to the Subcommittee on Capital Markets and Government Sponsored Enterprises.
2011-02-16	House	Referred to the House Committee on Financial Services.

SB366 (Same As) 2011-02-16 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
SB1048 (Related) 2011-10-13 - Committee on Banking, Housing, and Urban Affairs. Hearings held. Hearings printed: S.Hrg. 112-332.
SB2101 (Related) 2012-02-13 - Placed on Senate Legislative Calendar under General Orders. Calendar No. 320.

Type	Source
Summary	https://www.congress.gov/bill/112th-congress/house-bill/740/all-info
Text	https://www.congress.gov/112/bills/hr740/BILLS-112hr740ih.pdf