SEC Releases FAQs Related to Holding Foreign Insiders Accountable Act

The staff in the SEC’s Division of Corporation Finance has released FAQs related to implementing the Holding Foreign Insiders Accountable (HFIA) Act. Specifically, the FAQs address “the obligations of directors and officers of foreign private issuers with a class of equity securities registered under Section 12 of the Exchange Act who are preparing for their first filings under Section 16(a) of the Exchange Act as a result of the effectiveness of the HFIA Act.” The HFIA Act will become effective on March 18, 2026.