PRC Broker-Dealers and Investment Advisers Moratorium Act

This bill amends securities laws to temporarily prohibit brokers, dealers, and investment advisers with certain ties to the People's Republic of China (PRC) from registering with the Securities and Exchange Commission (SEC). The prohibitions last for 5 years after enactment.

Sec. 2, Prohibitions: The bill adds new rules to the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940. A broker or dealer cannot register if it is organized under PRC law, controlled by a PRC entity or a PRC national residing in China, or has an associated person organized under PRC law that provides platform infrastructure, network services, or software/product development, maintenance, or support. Similarly, an investment adviser cannot register if it is organized under PRC law, controlled by a PRC entity or a PRC national residing in China, or has an affiliate organized under PRC law that provides software development or support, product development, or customer service. Both prohibitions expire 5 years after the bill's enactment.