22 U.S.C. § 3104 — Rules and regulations

Page 1309 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 3104 duct a comprehensive benchmark survey at least once every five years and, for such purpose, shall,’’ in provi- sions preceding par (1). Subsec. (c)(2). Pub. L. 97–33, § 2, substituted ‘‘the President shall annually compile currently available data on United States portfolio investment abroad in- cluding items such as data on the magnitude and aggre- gate value of portfolio investment, form of invest- ments, types of investors, nationality of investors and recorded residence of private holders, diversification of holdings by economic sector, and holders of record. The President shall submit an analysis of such data to the Congress not later than the first day of July of each year’’ for ‘‘the President shall conduct a benchmark survey of United States portfolio investment abroad and, for such purpose, shall (among other things and to the extent he determines necessary and feasible) deter- mine the magnitude and aggregate value of portfolio investment, form of investments, types of investors, nationality of investors and recorded residence of pri- vate holders, diversification of holdings by economic sector, and holders of record. The President shall com- plete such survey not later than the end of the five- year period beginning on October 11, 1976. After comple- tion of such survey, the President shall report to the Congress on the feasibility and desirability of con- ducting, on a periodic basis, additional benchmark sur- veys of United States portfolio investment abroad. If he determines that such additional benchmark surveys are feasible and desirable, he may conduct such surveys’’. Subsecs. (e) to (g). Pub. L. 97–33, § 3, added subsec. (e) and redesignated subsecs. (e) and (f) as (f) and (g), re- spectively. 1979—Subsec. (a)(3). H. Res. 89 changed name of Com- mittee on International Relations of the House of Rep- resentatives to Committee on Foreign Affairs. 1978—Subsec. (d). Pub. L. 95–381 substituted provi- sions setting forth requirements respecting interim and final reports to Congress, for provisions requiring sub- mission of findings and conclusions to Congress not later than two years after Oct. 11, 1976. Statutory Notes and Related Subsidiaries CHANGE OF NAME Committee on Energy and Commerce of House of Representatives treated as referring to Committee on Commerce of House of Representatives by section 1(a) of Pub. L. 104–14, set out as a note preceding section 21 of Title 2, The Congress. Committee on Commerce of House of Representatives changed to Committee on En- ergy and Commerce of House of Representatives, and jurisdiction over matters relating to securities and ex- changes and insurance generally transferred to Com- mittee on Financial Services of House of Representa- tives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001. TERMINATION OF REPORTING REQUIREMENTS For termination, effective May 15, 2000, of provisions in subsec. (c)(2) of this section relating to submitting an analysis of compiled data to Congress each year, see section 3003 of Pub. L. 104–66, as amended, set out as a note under section 1113 of Title 31, Money and Finance, and page 30 of House Document No. 103–7. § 3104. Rules and regulations (a) Authorization The authorities and responsibilities under this chapter may be exercised through such rules and regulations as may be necessary to carry out the purposes of this chapter. (b) Recordkeeping and reports Rules or regulations issued pursuant to this chapter may require any person subject to the jurisdiction of the United States— (1) to maintain a complete record of any in- formation (including journals or other books of original entry, minute books, stock transfer records, lists of shareholders, or financial statements) which is essential to carrying out the surveys and studies to be conducted under this chapter; and (2) to furnish, under oath, any report con- taining information which is determined to be necessary to carry out the surveys and studies conducted under this chapter. When a report under paragraph (2) is furnished under oath, such oath shall be by the officer of such person who is directly responsible for the maintenance and compilation of such informa- tion, and shall certify that the report was pre- pared in accordance with this chapter, is com- plete, and is to such officer’s best knowledge and belief, substantially accurate, except in a case in which, in accordance with rules and regula- tions issued under this chapter, estimates have been provided because data are not available from customary accounting records or precise data could not be obtained without undue bur- den, and the data subject to such estimates has been noted in the report. (c) Access to information; limitation Access to information obtained under sub- section (b)(2) of this section shall be available only to officials or employees designated to per- form functions under this chapter, including consultants and persons working on contracts awarded pursuant to this chapter. Subject to the limitation of paragraph (1) of this subsection, the President may authorize the exchange be- tween agencies or officials designated by him of information furnished by any person under this chapter as he deems necessary to carry out the purposes of this chapter. Nothing in this section shall be construed to require any Federal agency to disclose to any official exercising authority under this chapter any information or report collected under legal authority other than this chapter where disclosure is prohibited by law. Information collected pursuant to subsection (b)(2) may be used only— (1) for analytical or statistical purposes within the United States Government; or (2) for the purpose of a proceeding under sub- section (e) of this section or under section 3105(b) or (c) of this title. No official or employee designated to perform functions under this chapter, including consult- ants and persons working on contracts awarded pursuant to this chapter, may publish or make available to any other person any information collected pursuant to subsection (b)(2) in a man- ner that the person who furnished the informa- tion can be specifically identified except as pro- vided in this section. No person can compel the submission or disclosure of any report or con- stituent part thereof collected pursuant to this chapter, or any copy of such report or con- stituent part thereof, without the prior written consent of the person who maintained or fur- nished such report under subsection (b) and without prior written consent of the customer, where the person who maintained or furnished such report included information identifiable as being derived from the records of such customer. Page 1310 TITLE 22—FOREIGN RELATIONS AND INTERCOURSE § 3105 1 See References in Text note below. (d) Access to Bureau of Economic Analysis infor- mation The Bureau of the Census of the Department of Commerce is authorized, for purposes of aug- menting and improving the quality of data col- lected by the Bureau of the Census, to have, upon written request, access to data relating to business enterprises that is collected directly by the Bureau of Economic Analysis for purposes of this chapter. The Bureau of Labor Statistics of the Department of Labor is authorized, for pur- poses of augmenting and improving the data col- lected by the Bureau of Labor Statistics, to have access, upon written request, to selected identification information on business enter- prises and data on international services trans- actions, that is collected directly by the Bureau of Economic Analysis for purposes of this chap- ter. Officers and employees of the Bureau of the Census and the Bureau of Labor Statistics shall, for purposes of subsection (c), be deemed to be officials or employees designated to perform functions under this chapter. (e) Penalty Any person who willfully violates subsection (c) or (d) shall, upon conviction, be fined not more than $10,000, in addition to any other pen- alty imposed by law. (Pub. L. 94–472, § 5, Oct. 11, 1976, 90 Stat. 2062; Pub. L. 98–573, title III, § 306(b)(5), Oct. 30, 1984, 98 Stat. 3010; Pub. L. 101–533, §§ 6(d), (e), 7(a), Nov. 7, 1990, 104 Stat. 2349.) Editorial Notes AMENDMENTS 1990—Subsec. (b). Pub. L. 101–533, § 7(a), inserted at end ‘‘When a report under paragraph (2) is furnished under oath, such oath shall be by the officer of such person who is directly responsible for the maintenance and compilation of such information, and shall certify that the report was prepared in accordance with this chapter, is complete, and is to such officer’s best knowledge and belief, substantially accurate, except in a case in which, in accordance with rules and regula- tions issued under this chapter, estimates have been provided because data are not available from cus- tomary accounting records or precise data could not be obtained without undue burden, and the data subject to such estimates has been noted in the report.’’ Subsec. (c)(2). Pub. L. 101–533, § 6(e)(1), substituted ‘‘subsection (e)’’ for ‘‘subsection (d)’’. Subsec. (d). Pub. L. 101–533, § 6(d)(2), added subsec. (d). Former subsec. (d) redesignated (e). Subsec. (e). Pub. L. 101–533, § 6(d)(1), (e)(2), redesig- nated subsec. (d) as (e) and inserted ‘‘or (d)’’ after ‘‘sub- section (c)’’. 1984—Subsec. (b)(1), (2). Pub. L. 98–573 struck out ‘‘international investment’’ before ‘‘surveys’’. § 3105. Enforcement (a) Civil penalty for failure to furnish informa- tion Whoever fails to furnish any information re- quired under this chapter, whether required to be furnished in the form of a report or other- wise, or to comply with any rule, regulation, order, or instruction promulgated under this chapter, shall be subject to a civil penalty of not less than $2,500, and not more than $25,000, in a proceeding brought under subsection (b) of this section. (b) Civil action for failure to furnish information Whenever it appears that any person has failed to furnish any information required under this chapter, whether required to be furnished in the form of a report or otherwise, or has failed to comply with any rule, regulation, order, or in- struction promulgated under this chapter, a civil action may be brought in an appropriate district court of the United States, or the appro- priate United States court of any territory or other place subject to the jurisdiction of the United States, and such court may enter a re- straining order or a permanent or temporary in- junction commanding such person to furnish such information or to comply with such rule, regulation, order, or instruction, as the case may be, or impose the civil penalty provided in subsection (a) of this section, or both. (c) Criminal penalty for failure to submit infor- mation Whoever willfully fails to submit any informa- tion required under this chapter, whether re- quired to be furnished in the form of a report or otherwise, or willfully violates any rule, regula- tion, order, or instruction promulgated under this chapter, upon conviction, shall be fined not more than $10,000 and, if an individual, may be imprisoned for not more than one year, or both, and any officer, director, employee, or agent of any corporation who knowingly participates in such violation, upon conviction, may be pun- ished by a like fine, imprisonment, or both. (Pub. L. 94–472, § 6, Oct. 11, 1976, 90 Stat. 2063; Pub. L. 101–533, § 7(b), Nov. 7, 1990, 104 Stat. 2349.) Editorial Notes AMENDMENTS 1990—Subsec. (a). Pub. L. 101–533 substituted ‘‘shall be subject to a civil penalty of not less than $2,500, and not more than $25,000,’’ for ‘‘may be subject to a civil pen- alty not exceeding $10,000’’. § 3106. Use of experts and administrative support services (a) Compensation and travel expenses Any official designated by the President to carry out this chapter may procure the tem- porary or intermittent services of experts and consultants in accordance with the provisions of section 3109 of title 5. Persons so employed shall receive compensation at a rate not in excess of the maximum amount payable under such sec- tion. While away from his home or regular place of business and engaged in the performance of services in conjunction with the provisions of this chapter, any such person may be allowed travel expenses, including per diem in lieu of subsistence, as authorized by section 5703(b) 1 of title 5 for persons in the Government service employed intermittently. (b) Use of available Federal agency services, equipment, personnel, and facilities Any official designated by the President to carry out this chapter may use, on a reimburs- able basis when appropriate (as determined by the President), the available services, equip-