S. 1488 would amend the Foreign Agents Registration Act. It would prevent certain commercial-activity exemptions from applying to agents promoting the public or political interests of a foreign government or party, including activities on behalf of a sovereign wealth fund. It would let the Attorney General issue civil investigative demands for records, written answers, or testimony during investigations. The authority would expire after five years, and the Attorney General would report its use to Congress each year. The bill would also create civil fines for registration violations. It was introduced and referred to the Senate Committee on Foreign Relations.
People required to register as agents of foreign principals could face new information demands and civil fines for certain registration violations. The bill does not describe direct changes for the general public.
The bill sets fines of up to $10,000 for each failure to file a timely or complete registration statement, up to $1,000 for each failure to file a timely or complete supplement, and up to $200,000 for certain other violations. Collected fines would help pay for enforcement. No publicly available information on other costs.
No publicly available information.
No publicly available information.