; and (II) terminate the designation of any regional center that does not pay the fee required under clause (ii)(I) within 90 days of the date on which such clause requires the Secretary to collect the fee. (v) Report The Secretary shall submit an annual report to the Committee on the Judiciary of the Senate and the Committee on the Judiciary of the House of Representatives that describes how amounts in the Fund were expended during the immediately preceding fiscal year. (N) Direct and third-party promoters (i) Rules and standards Direct and third-party promoters of a regional center, any new commercial enterprise, an affiliated job-creating entity, or issuer of securities affiliated with the regional center shall comply with the rules and standards prescribed by the Secretary of Homeland Security and any applicable Federal or State securities laws, to oversee regional center promotion, including— (I) registration with U.S. Citizenship and Immigration Services, which— (aa) may be limited to identifying and contact information of such promoter and confirmation of the existence of the written agreement required by clause (iii); and (bb) shall not include any requirement that U.S. Citizenship and Immigration Services approve the registration of such promoter; (II) minimum qualifications; (III) guidelines for offering investment opportunities and representing the visa process to prospective investors under the program established under subparagraph (H)