[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[S. 1169 Introduced in Senate (IS)]

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118th CONGRESS
  1st Session
                                S. 1169

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.


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                   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

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                                 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).
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