; and (ii) would experience extreme financial hardship to comply within the 180-day period under subparagraph (A). (c) Assignment of authority (1) Enforcement The Secretary shall enforce the provisions of this section. (2) Regulations Not later than 90 days after the date of the enactment of this section, the Secretary shall issue such regulations and guidance as necessary to implement and enforce this section. (d) Report Not later than 360 days after the date of the enactment of this section, the Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a report on the progress of the divestments required under subsection (b)(2). (e) Petition for removal from designation (1) In general A foreign industrial defense corporation may petition the Secretary to not be included or removed from a report under subsection (a). (2) Requirements A petition under paragraph (1) shall include such documentation of the assets and liabilities, company financial records, ownership and investor records, and past and current business contracts of the foreign industrial defense corporation submitting such petition that the Secretary determines necessary. (f) Final report Not later than 8 years after the date of the enactment of this section, the Secretary shall submit to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives a final report on the implementation of this section, including— (1) an analysis of the effectiveness of this section; (2) the development and maintenance of the reports required under subsection (a)