S 1089 Re-checks Congress.gov for new actions and updates the bill's status, and fills in any sponsors, committees, or related bills that are missing. It does not re-pull sponsors/cosponsors/committees/related — those rarely change — and it skips all work if nothing has changed upstream, so it's cheap to click.
Holding Foreign Insiders Accountable Act
To amend the Securities Exchange Act of 1934 to address disclosures by directors, officers, and principal stockholders of foreign private issuers, and for other purposes.
Summary
This bill extends insider trading disclosure requirements to foreign companies trading in U.S. markets. Currently, directors, officers, and principal stockholders of U.S. companies must report their trades under federal securities law, but foreign private issuers are exempt from this requirement. The bill eliminates this exemption and requires foreign company insiders to file the same disclosure reports as U.S. company insiders when they trade shares. The SEC must issue final regulations within 90 days to implement the change, and any existing SEC regulations that conflict with this requirement are voided.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Kennedy, John [R-LA] (R-LA)
1 cosponsor
Actions (2)
- Mar 24, 2025 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. · senate
- Mar 24, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
March 24, 2025
Mr. Kennedy (for himself and Mr. Van Hollen) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs
A BILL
To amend the Securities Exchange Act of 1934 to address disclosures by directors, officers, and principal stockholders of foreign private issuers, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Holding Foreign Insiders Accountable Act”.
SEC. 2. DISCLOSURES BY DIRECTORS, OFFICERS, AND PRINCIPAL STOCKHOLDERS.
(a) In General.—Section 16(a)(1) of the Securities Exchange Act of 1934 (15 U.S.C. 78p(a)(1)) is amended by inserting “(including any such security of a foreign private issuer, as that term is defined in section 240.3b-4 of title 17, Code of Federal Regulations, or any successor regulation)” after “pursuant to section 12”.
(b) Effect on Regulation.—If any provision of section 240.3a12- 3(b) of title 17, Code of Federal Regulations, or any successor regulation, is inconsistent with the amendment made by subsection (a), that provision of such section 240.3a12-3(b) (or such successor) shall have no force or effect.
(c) Issuance or Amendment of Regulations.—Not later than 90 days after the date of enactment of this Act, the Securities and Exchange Commission shall issue final regulations (or amend existing regulations of the Commission) to carry out the amendment made by subsection (a). <all>
Comments