of the Treasury shall prescribe or amend regulations as needed to require each financial institution that is a United States person and has within its possession or control assets that are property or interests in property of a person that is on the list required by section 7(a) if such property and interests in property are in the United States to certify to the Secretary that, to the best of the knowledge of the financial institution, the financial institution has frozen all assets within the possession or control of the financial institution that are required to be frozen pursuant to subsection (a). (3) Notification to congress Not later than 10 days before the promulgation of regulations under paragraph (2), the President shall notify the appropriate congressional committees of the proposed regulations and the provisions of this Act and the amendments made by this Act that the regulations are implementing. (d) Regulatory authority The Secretary of the Treasury shall issue such regulations, licenses, and orders as are necessary to carry out this section. 11. Report to Congress Not later than one year after the date of the enactment of this Act, and not less frequently than annually thereafter, the Secretary of State and the Secretary of the Treasury shall submit to the appropriate congressional committees a report on— (1) the actions taken to carry out this Act, including— (A) the number of persons added to or removed from the list required by section 7(a) during the year preceding the report, the dates on which such persons have been added or removed, and the reasons for adding or removing such persons