This bill requires foreign companies that trade on U.S. stock exchanges to follow the same insider trading disclosure rules as American companies. Specifically, it amends federal securities law to mandate that directors, officers, and major shareholders of foreign private issuers report their stock transactions the same way U.S. insiders must, closing what supporters view as a regulatory gap. The Securities and Exchange Commission must issue final regulations within 90 days of the bill's enactment to implement these disclosure requirements. The legislation affects foreign companies with U.S. listings and aims to increase transparency and prevent potential insider trading abuses by foreign corporate insiders.