A bill to amend the Securities Exchange Act of 1934 to make it unlawful for a foreign Corporation to acquire certain ownership interests in United States securities unless the country in which such corporation is incorporated permits the acquisition of similar ownership interests in foreign securities by United States companies.

Amends the Securities Exchange Act of 1934 to make it unlawful for a foreign corporation to acquire U.S. securities, unless U.S. corporations are permitted to acquire, under regulations no more restrictive than in the United States, securities in the country of such foreign corporation's incorporation. Permits the President to waive such restriction in a national emergency.