Support and advance legislation to impose a moratorium on CCP-linked broker-dealers and investment advisers until U.S. financial regulators can evaluate their impact on consumer protection and protect U.S. retail investors.

Senator Dave McCormick (R-PA) and Senator John Fetterman (D-PA) today introduced the PRC Broker-Dealers and Investment Advisers Moratorium Act to protect U.S. markets, consumers, and national economic security. ... “This bill gives the financial regulators necessary time to evaluate the impact on U.S. consumer protection and protects the U.S. retail investor.”

McCormick introduced bipartisan legislation targeting CCP-linked broker-dealers and investment advisers, saying the bill would give regulators time to evaluate consumer-protection impacts and protect retail investors.

Senators McCormick & Fetterman Introduce Legislation to Target PRC Financial Firms & Protect U.S. Economic Security - Senator Dave McCormick
secondary · other · model gpt-5.5

Promise 6 said McCormick would counter China by ending U.S. investment or trade that supports the Chinese Communist Party.

Campaign material establishes the broader China-investment promise area, but it does not itself prove later Senate delivery on a broker-dealer/investment-adviser moratorium.

unresolved unknown

Ten “Day One” Promises for Pennsylvania
secondary · model gpt-5.5 · confidence 86%

The agenda called for banning U.S. investment or trade supporting the CCP national security state and creating an outbound investment regime.

This campaign page supports that McCormick promised China-related investment restrictions, but its text is broader than the specific moratorium on CCP-linked broker-dealers and advisers.

unresolved unknown

Dave’s Keystone Agenda to Reclaim America - Dave McCormick for U.S. Senate
secondary · model gpt-5.5 · confidence 84%

McCormick serves on Senate Banking, which oversees banking, financial markets, housing, and some international economic policy.

His committee assignment gave him a relevant venue to advance financial-market legislation, including SEC-related legislation, during the same Senate term.

unresolved same_term

Committee Assignments - U.S. Senator Dave McCormick
secondary · model gpt-5.5 · confidence 82%

The official China issue page lists related press on China exchange-rate legislation, Taiwan IMF participation, and fentanyl legislation.

McCormick’s own China issue page identifies China-related actions, but none is a moratorium on CCP-linked broker-dealers or investment advisers pending regulator review.

never same_term

Confronting China - U.S. Senator Dave McCormick
secondary · model gpt-5.5 · confidence 80%

The CERT Act would direct the U.S. Executive Director at the IMF to advocate enhanced transparency in China’s exchange-rate arrangements.

This is concrete China-related financial legislation from McCormick, but it concerns IMF exchange-rate transparency, not a broker-dealer or investment-adviser moratorium protecting retail investors.

never same_term

Senators Dave McCormick, Catherine Cortez Masto Introduce China Exchange Rate Legislation
secondary · model gpt-5.5 · confidence 83%

The bill would require the U.S. Governor at the IMF to support Taiwan admission if Taiwan seeks it.

Another China-adjacent financial-system action, but it addresses Taiwan’s IMF status rather than CCP-linked broker-dealers or investment advisers.

never same_term

Senators Dave McCormick, Jacky Rosen, Dan Sullivan, and Elissa Slotkin Introduce Taiwan Non-Discrimination Act
secondary · model gpt-5.5 · confidence 82%

The bill would establish a joint task force to counter illicit synthetic narcotics and address the PRC’s role in the opioid crisis.

This shows action on China-related fentanyl issues, not the promised financial-regulatory moratorium for retail-investor protection.

never same_term

Senator Dave McCormick Introduces Bipartisan, Bicameral Bill to Combat the Scourge of Fentanyl
primary · model gpt-5.5 · confidence 81%

The official legislation page shows recent sponsored items including S.4930, S.4904, S.4686, S.4633, S.4630, and S.4606.

The visible official legislation list through June 25, 2026 shows unrelated bills and amendments, with no listed bill imposing the promised moratorium.

never same_term

Legislation - U.S. Senator Dave McCormick
primary · model gpt-5.5 · confidence 76%