; and (2) not later than 15 days before granting the waiver, submits to the appropriate congressional committees notice of, and a justification for, the waiver. (d) Enforcement (1) Penalties Any person that violates, attempts to violate, conspires to violate, or causes a violation of subsection (a) or any regulation, license, or order issued to carry out that subsection shall be subject to the penalties set forth in subsections (b) and (c) of section 206 of the International Emergency Economic Powers Act ( 50 U.S.C. 1705 ) to the same extent as a person that commits an unlawful act described in subsection (a) of such section. (2) Requirements for financial institutions Not later than 120 days after the date of the enactment of this Act, the Secretary of the Treasury shall prescribe or amend regulations to the extent necessary 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 on the list required under section 7(a) to certify to the Secretary that, to the best of the knowledge of the financial institution, the financial institution has blocked all assets within the possession or control of the financial institution in accordance with subsection (a). (3) Notification to congress Not later than 10 days before prescribing or revising regulations under paragraph (2), the President shall notify the appropriate congressional committees of the proposed regulations and the provisions of this Act or amendments made by this Act that the regulations are implementing. (e) Rulemaking The Secretary of the Treasury shall issue such regulations, licenses, and orders as may be necessary to carry out this section. 10. Reports to Congress (a) In general The President shall submit a report to the appropriate congressional committees that includes— (1) a list of each foreign person with respect to which the President imposed sanctions pursuant to section 8 or 9 during the 1-year period preceding the submission of