PRC Financial Intermediary Review Act

This bill (S 3405) requires the Securities and Exchange Commission (SEC) to study financial firms controlled by or organized under Chinese law that operate in the U.S. Specifically, it mandates a study of Chinese-controlled brokers/dealers registered with the SEC and Chinese-controlled investment advisers registered with the SEC, focusing on transparency and cooperation. The SEC must complete this study and submit a report to Congress within one year of the bill's enactment. The bill directly affects Chinese-controlled financial intermediaries operating under U.S. SEC registration, but does not impose new regulations or alter existing laws.