SEC Announces New Insider Trading Rules for Foreign Companies

The US Securities and Exchange Commission announced new insider trade rules on Friday for executives in non-US companies who buy or sell stock in their firms.

The SEC’s rules require executives and officers to quickly reveal when they scoop up or dump shares, a disclosure meant to deter people from using non-public information to cash in on well-timed trades. The requirements, which will take effect March 18, will be mostly in line with those faced by executives in American companies that require reporting within two business days.