Prohibits brokers and dealers with certain ties to China from joining national securities associations and prohibits investment advisers with such.
The PRC Broker-Dealers and Investment Advisers Moratorium Act amends securities laws to prohibit brokers and dealers with certain connections to the People’s Republic of China from being members of a national securities association. It also prohibits investment advisers with such connections from registering with the Securities and Exchange Commission. These prohibitions apply if the broker, dealer, or adviser is controlled by an entity organized under Chinese laws, controlled by a Chinese national residing in China, or has an affiliate providing essential services from China.
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