SEC Amends Disclosure Requirements Under Holding Foreign Insiders Accountable Act

The SEC has released a final rule that amends the Securities and Exchange Act of 1934 “to reflect the requirements of the Holding Foreign Insiders Accountable [HFIA] Act.” The HFIA Act “amended Section 16(a) of the Exchange Act to require directors and officers of a foreign private issuer with a class of equity securities registered under Section 12 of the Exchange Act to provide disclosure of their beneficial ownership and transactions involving the issuer’s equity securities.”

For more information, see the press release and fact sheet — as well as the statement by SEC Chairman Paul Atkins — on the SEC’s Web site.