The US SEC issues new regulations for foreign company oversight, requiring executives to disclose stock trades in a timely manner.

The U.S. Securities and Exchange Commission announced on Friday a new rule for disclosure of transactions by executives of non-U.S. companies buying or selling their own company's stock. The SEC's new rule requires company executives to promptly disclose when they are increasing or decreasing their ownership of company stock, in an effort to prevent insider trading for profit. The rule will take effect on March 18, and is similar to the requirement for U.S. company executives to report within two business days. The rule applies to what the SEC calls foreign private issuers, companies based outside the U.S. with some of their stock trading in the U.S. but enjoying certain exemptions in disclosure and reporting requirements. The SEC stated that a law passed by Congress last year required regulatory agencies to establish relevant rules. SEC Chairman Paul Atkins said in a statement, "These requirements will align reporting obligations for foreign executives with those of U.S. executives."