Holding Foreign Insiders Accountable Act

HR 7019, the Holding Foreign Insiders Accountable Act, requires foreign private issuers (companies based outside the U.S. that list securities in U.S. markets) to disclose their directors', officers', and major shareholders' stock ownership, aligning them with domestic disclosure rules. The bill amends the Securities Exchange Act to explicitly include foreign private issuers under existing Section 16(a) disclosure requirements. It directs the Securities and Exchange Commission (SEC) to issue or update regulations within 90 days to implement this change, making any conflicting SEC rules obsolete. This affects foreign companies and their top insiders who trade U.S. securities, mandating transparency similar to U.S. firms.