| 1 | 1 | | II |
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| 2 | 2 | | 119THCONGRESS |
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| 3 | 3 | | 1 |
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| 4 | 4 | | STSESSION S. 1089 |
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| 5 | 5 | | To amend the Securities Exchange Act of 1934 to address disclosures by |
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| 6 | 6 | | directors, officers, and principal stockholders of foreign private issuers, |
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| 7 | 7 | | and for other purposes. |
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| 8 | 8 | | IN THE SENATE OF THE UNITED STATES |
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| 9 | 9 | | MARCH24, 2025 |
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| 10 | 10 | | Mr. K |
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| 11 | 11 | | ENNEDY(for himself and Mr. VANHOLLEN) introduced the following |
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| 12 | 12 | | bill; which was read twice and referred to the Committee on Banking, |
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| 13 | 13 | | Housing, and Urban Affairs |
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| 14 | 14 | | A BILL |
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| 15 | 15 | | To amend the Securities Exchange Act of 1934 to address |
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| 16 | 16 | | disclosures by directors, officers, and principal stock- |
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| 17 | 17 | | holders of foreign private issuers, and for other purposes. |
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| 18 | 18 | | Be it enacted by the Senate and House of Representa-1 |
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| 19 | 19 | | tives of the United States of America in Congress assembled, 2 |
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| 20 | 20 | | SECTION 1. SHORT TITLE. 3 |
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| 21 | 21 | | This Act may be cited as the ‘‘Holding Foreign Insid-4 |
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| 22 | 22 | | ers Accountable Act’’. 5 |
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| 23 | 23 | | SEC. 2. DISCLOSURES BY DIRECTORS, OFFICERS, AND 6 |
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| 24 | 24 | | PRINCIPAL STOCKHOLDERS. 7 |
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| 25 | 25 | | (a) I |
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| 26 | 26 | | NGENERAL.—Section 16(a)(1) of the Securities 8 |
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| 27 | 27 | | Exchange Act of 1934 (15 U.S.C. 78p(a)(1)) is amended 9 |
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| 28 | 28 | | VerDate Sep 11 2014 00:02 Mar 29, 2025 Jkt 059200 PO 00000 Frm 00001 Fmt 6652 Sfmt 6201 E:\BILLS\S1089.IS S1089 |
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| 29 | 29 | | ssavage on LAPJG3WLY3PROD with BILLS 2 |
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| 30 | 30 | | •S 1089 IS |
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| 31 | 31 | | by inserting ‘‘(including any such security of a foreign pri-1 |
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| 32 | 32 | | vate issuer, as that term is defined in section 240.3b–4 2 |
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| 33 | 33 | | of title 17, Code of Federal Regulations, or any successor 3 |
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| 34 | 34 | | regulation)’’ after ‘‘pursuant to section 12’’. 4 |
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| 35 | 35 | | (b) E |
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| 36 | 36 | | FFECT ONREGULATION.—If any provision of 5 |
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| 37 | 37 | | section 240.3a12–3(b) of title 17, Code of Federal Regula-6 |
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| 38 | 38 | | tions, or any successor regulation, is inconsistent with the 7 |
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| 39 | 39 | | amendment made by subsection (a), that provision of such 8 |
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| 40 | 40 | | section 240.3a12–3(b) (or such successor) shall have no 9 |
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| 41 | 41 | | force or effect. 10 |
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| 42 | 42 | | (c) I |
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| 43 | 43 | | SSUANCE ORAMENDMENT OF REGULATIONS.— 11 |
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| 44 | 44 | | Not later than 90 days after the date of enactment of this 12 |
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| 45 | 45 | | Act, the Securities and Exchange Commission shall issue 13 |
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| 46 | 46 | | final regulations (or amend existing regulations of the 14 |
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| 47 | 47 | | Commission) to carry out the amendment made by sub-15 |
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| 48 | 48 | | section (a). 16 |
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| 49 | 49 | | Æ |
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| 50 | 50 | | VerDate Sep 11 2014 00:02 Mar 29, 2025 Jkt 059200 PO 00000 Frm 00002 Fmt 6652 Sfmt 6301 E:\BILLS\S1089.IS S1089 |
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| 51 | 51 | | ssavage on LAPJG3WLY3PROD with BILLS |
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