S. 1169Senate118th Congress (2023-2025)In Committee

Holding Foreign Insiders Accountable Act

AI-Generated Summary

Updated January 20, 2026 at 6:14 AM UTC

The Holding Foreign Insiders Accountable Act changes the Securities Exchange Act of 1934 so that directors, officers, and major shareholders of foreign private companies must make the same public disclosures about their holdings and trades as U.S. insiders. It expands insider‑reporting rules to cover foreign issuers and directs the SEC to create or update rules to enforce the change. The bill mainly affects foreign private issuers’ insiders and the Securities and Exchange Commission.

Key Provisions

Amends Section 16(a)(1) to require disclosures by directors, officers, and principal stockholders of foreign private issuers
States that any existing SEC regulation conflicting with this amendment is void
Orders the SEC to issue final regulations or amend existing ones within 90 days to implement the new disclosure requirement

Legislative Activity

Stay on top of the latest movement without scrolling through every action

1 earlier action

SenateIntro Referral Latest Action

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

April 17, 2023

View full timeline

SenateIntro Referral

Introduced in Senate

April 17, 2023

SenateIntro Referral

Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Banking, Housing, and Urban Affairs Committee

April 17, 2023

Bill Text

Latest available legislative text

Reading Mode

Raw Text PDF XML

Introduced in SenateIssued April 17, 2023

118th CONGRESS

1st Session

S. 1169

IN THE SENATE OF THE UNITED STATES

April 17, 2023

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.

Short title

This Act may be cited as the Holding Foreign Insiders Accountable Act.

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).