Foreign Insiders Face SEC Stock Trade Disclosures Under Bill
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000US Stocks:The Securities and Exchange Commission headquarters in Washington. Foreign corporate insiders would have to reveal when they buy or sell company stock under a provision included in the House-passed defense authorization bill, a move backers describe as closing a loophole that hurts US investors. The narrow section of the $901 billion defense billBloomberg Terminal amends US securities laws so overseas companies are required to report within two business days when officers and directors scoop up or dump shares, which is similar to insider reporting requirements for American businesses. The legislation now heads to the Senate.