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United States: Senate Proposes To Extend Section 16 Requirements To Foreign Private Issuers - Shearman & Sterling LLP
Credit: Mondaq- Published on January 16, 2024
The U.S. Senate recently passed the National Defense Authorization Act for Fiscal Year 2024 (the "NDAA"), which, if enacted, would subject insiders (i.e., directors, executive officers and greater than 10% shareholders) of foreign private issuers ("FPIs") to the requirements of Section 16 of the Securities Exchange Act of 1934.
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