Holding Foreign Insiders Accountable Act

Technology

Last mentioned: 5d ago

Timeline

  1. Compliance Deadline

    Section 16(a) reporting obligations officially begin for all non-exempt FPI insiders.

  2. Exemption Order

    SEC issues the order granting relief to directors and officers in specific qualifying jurisdictions.

  3. SEC Implementation

    The SEC adopts rule amendments to implement HFIAA reporting requirements.

  4. HFIAA Enacted

    Congress passes the Holding Foreign Insiders Accountable Act, removing the long-standing Section 16 exemption for FPIs.

Stories mentioning Holding Foreign Insiders Accountable Act 1

Regulation Neutral

SEC Grants Section 16(a) Exemptions for FPIs in Key Global Jurisdictions

The U.S. Securities and Exchange Commission has issued an order exempting directors and officers of Foreign Private Issuers from certain jurisdictions from new Section 16(a) reporting requirements. This relief applies to individuals in jurisdictions with substantially similar insider reporting frameworks, including the UK, Canada, and the European Economic Area.

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