Practical, Experience-Based Insights on Financial Regulatory Developments
On December 18, 2025, President Trump signed into law the Holding Foreign Insiders Accountable Act (the “HFIAA”), which will terminate an exemption that long enabled directors and officers of foreign private issuers (“FPIs”) to avoid certain insider reporting obligations under Section 16(a) of the Securities Exchange Act of 1934, as amended…
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