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H.R. 9028119th CongressIn committeeLatest action May 26, 2026Decoded by AI · checked against the record
Official title: PRC Broker-Dealers and Investment Advisers Moratorium Act
Introduced:
Read the official bill on Congress.govThe plain-language version leads. The official text is always the reference.
HR 9028 would ban China-linked brokers, dealers, and investment advisers from SEC registration for five years.
55-second read · 4 questions answered below
HR 9028 would prohibit brokers, dealers, and investment advisers from obtaining or keeping SEC registration if they are organized under Chinese law, more than 15% owned or controlled by Chinese companies or citizens living in China, or dependent on Chinese-connected firms for key services such as software, technology infrastructure, or product development. Without SEC registration, these firms cannot legally operate in U.S. financial markets. The ban would last five years from the date the law is signed, then expire automatically.
The bill directly affects financial firms with ties to China that currently operate or seek to operate in the United States, including companies that rely on Chinese-affiliated businesses for technology or customer service functions. American investors who use platforms or advisers falling under these restrictions could also be affected if those firms lose their SEC registration.
Firms with Chinese connections would need to either sever those ties or exit U.S. financial markets entirely. Investors using affected platforms or advisers could face disruptions to their access to those services.
AI-drafted summary. Verify it against the official text before you act on it. Read the official bill on Congress.gov
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the President.
Latest action: — Referred to the House Committee on Financial Services.