22 U.S.C. § 8513b: Expansion of, and reports on, mandatory sanctions with respect to financial institutions that engage in certain activities

Not later than 90 days after August 10, 2012 , the Secretary of the Treasury shall revise the regulations prescribed under section 8513(c)(1) of this title to apply to a foreign financial institution described in subsection (b) to the same extent and in the same manner as those regulations apply to a foreign financial institution that the Secretary of the Treasury finds knowingly engages in an activity described in section 8513(c)(2) of this title . knowingly facilitates, or participates or assists in, an activity described in section 8513(c)(2) of this title , including by acting on behalf of, at the direction of, or as an intermediary for, or otherwise assisting, another person with respect to the activity; attempts or conspires to facilitate or participate in such an activity; or is owned or controlled by a foreign financial institution that the Secretary finds knowingly engages in such an activity. the effect of the regulations prescribed under section 8513(c)(1) of this title on the financial system and economy of Iran and capital flows to and from Iran; and the ways in which funds move into and out of financial institutions described in section 8513(c)(2)(E)(ii) of this title , with specific attention to the use of other Iranian financial institutions and other foreign financial institutions to receive and transfer funds for financial institutions described in that section. Each report submitted under paragraph (1) shall be submitted in unclassified form but may contain a classified annex. The term “financial institution” means a financial institution specified in subparagraph (A), (B), (C), (D), (E), (F), (G), (H), (I), (J), (K), (M), (N), (R), or (Z) of section 5312(a)(2) of title 31 . The term “foreign financial institution” has the meaning of that term as determined by the Secretary of the Treasury pursuant to section 8513(i) of this title . a financial institution organized under the laws of Iran or any jurisdiction within Iran, including a foreign branch of such an institution; a financial institution located in Iran; a financial institution, wherever located, owned or controlled by the Government of Iran; and a financial institution, wherever located, owned or controlled by a financial institution described in subparagraph (A), (B), or (C).