S.1488

Sovereign Wealth Fund Transparency Act amends the Foreign Agents Registration Act of 1938.

The Sovereign Wealth Fund Transparency Act amends the Foreign Agents Registration Act of 1938 to clarify exemptions for commercial activities, grant the Attorney General authority to issue civil investigative demands, and establish civil penalties for non-compliance with registration requirements. It also mandates annual reports by the Attorney General on the use of these demands. The act specifies procedures for civil investigative demands, including service, jurisdiction, and the handling of documentary material, answers to interrogatories, and transcripts of oral testimony.