[Congressional Record Volume 164, Number 40 (Wednesday, March 7, 2018)]
[Senate]
[Page S1485]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

  SA 2118. Mr. MENENDEZ (for himself and Mr. Blumenthal) submitted an 
amendment intended to be proposed by him to the bill S. 2155, to 
promote economic growth, provide tailored regulatory relief, and 
enhance consumer protections, and for other purposes; which was ordered 
to lie on the table; as follows:

       At the appropriate place, insert the following:

     SEC. ___. DISCLOSURE AND CERTIFICATION REGARDING INVESTMENTS 
                   IN FIREARMS MANUFACTURERS AND IMPORTERS.

       (a) Definitions.--In this section--
       (1) the term ``Commission'' means the Securities and 
     Exchange Commission;
       (2) the term ``covered entity'' means an importer or a 
     manufacturer, as those terms are defined in section 921(a) of 
     title 18, United States Code;
       (3) the term ``held entity'' means an entity, the 
     securities of which a registered management company is 
     invested in;
       (4) the term ``management company'' has the meaning given 
     the term in section 4 of the Investment Company Act of 1940 
     (15 U.S.C. 80a-4);
       (5) the term ``registered management company'' means a 
     management company that has registered with the Commission 
     under the Investment Company Act of 1940 (15 U.S.C. 80a-1 et 
     seq.); and
       (6) the term ``security'' has the meaning given the term in 
     section 2(a) of the Investment Company Act of 1940 (15 U.S.C. 
     80a-2(a)).
       (b) Disclosure and Certification Required.--Not later than 
     180 days after the date of enactment of this Act, the 
     Commission shall revise section 270.30e-1 of title 17, Code 
     of Federal Regulations, or any successor regulation, to 
     require each registered management company, in each 
     transmission to stockholders of the company that is required 
     under that section, or any successor regulation, as 
     applicable, to--
       (1) disclose whether any held entity with respect to the 
     company is a covered entity; and
       (2) certify that, in making the disclosure required under 
     paragraph (1), the company exercised due diligence to 
     determine whether any held entity with respect to the company 
     is a covered entity, including whether any such held entity 
     exercises control over--
       (A) a covered entity; or
       (B) a subsidiary of a covered entity.
                                 ______