HOUSE 3088118th CongressReferred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

SEFIT Act

Last Action: 5/5/2023

Actions

2023-05-05Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2023-05-05Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2023-05-05Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2023-05-05Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2023-05-05Referred to the Committee on Foreign Affairs, and in addition to the Committees on Financial Services, the Judiciary, Ways and Means, and Oversight and Accountability, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2023-05-05Introduced in House
2023-05-05Introduced in House

CRS Summary

As of 2023-05-05 (00)

Sanctions Enforcement and Financial Institutions Transparency Act or the SEFIT Act

This bill requires the Department of the Treasury to notify Congress as to whether certain foreign financial institutions have engaged in sanctionable conduct.

The foreign financial institutions targeted by this bill are those that have a capitalization of over $10 million and are (1) organized under the laws of a state sponsor of terrorism, (2) owned or controlled by the government of a state sponsor of terrorism, (3) located in the territory of a state sponsor of terrorism, or (4) owned or controlled by a foreign financial institution that falls into one of the preceding categories.

Treasury must submit a determination to Congress as to whether any such foreign financial institution has engaged in, or attempted to engage in, conduct that would be sanctionable under certain laws, executive orders, or directives.

Cosponsors (1)

Kevin Hern (R-OK)

Read on Congress.gov

Sourced from Congress.gov (public domain).

This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.