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U.S. OVERNMENT
INFORMATION
Op
115TH CONGRESS REPORT
2d Session HOUSE OF REPRESENTATIVES 115-982
BANKING TRANSPARENCY FOR SANCTIONED PERSONS
ACT OF 2018
SEPTEMBER 26, 2018.-Committed to the Committee of the Whole House on the
State of the Union and ordered to be printed
Mr. HENSARLING, from the Committee on Financial Services,
submitted the following
REPORT
[To accompany H.R. 6751]
The Committee on Financial Services, to whom was referred the
bill (H.R. 6751) to increase transparency with respect to financial
services benefitting state sponsors of terrorism, human rights abus-
ers, and corrupt officials, and for other purposes, having considered
the same, report favorably thereon with an amendment and rec-
ommend that the bill as amended do pass.
The amendment is as follows:
Strike all after the enacting clause and insert the following:
SECTION 1. SHORT TITLE.
This Act may be cited as the Banking Transparency for Sanctioned Persons Act
of 2018.
SEC. 2. REPORT ON FINANCIAL SERVICES BENEFITTING STATE SPONSORS OF TERRORISM,
HUMAN RIGHTS ABUSERS, AND CORRUPT OFFICIALS.
(a) IN GENERAL.-Not later than 180 days after the date of the enactment of this
Act, and every 180 days thereafter, the Secretary of the Treasury shall issue a re-
port to the Committees on Financial Services and Foreign Affairs of the House of
Representatives and the Committees on Banking, Housing, and Urban Affairs and
Foreign Relations of the Senate that includes-
(1) a copy of any license issued by the Secretary in the preceding 180 days
that authorizes a financial institution to provide financial services benefitting
a state sponsor of terrorism; and
(2) a list of any foreign financial institutions that, in the preceding 180 days,
knowingly conducted a significant transaction or transactions, directly or indi-
rectly, for a sanctioned person included on the Department of the Treasury's
Specially Designated Nationals And Blocked Persons List who-
(A) is owned or controlled by, or acts on behalf of, the government of a
state sponsor of terrorism; or
(B) is designated pursuant to any of the following:
(i) Section 404 of the Russia and Moldova Jackson-Vanik Repeal and
Sergei Magnitsky Rule of Law Accountability Act of 2012 (Public Law
112-208).
79-006](ViewImageLocal?handle=hein.congrecreports/crptxabuu0001&div=1&collection=&method=preview&ext=.png&size=3)