A bill to amend the Securities Exchange Act of 1934 with respect to insider trading.

Amends the Securities Exchange Act of 1934 to require each person who is the beneficial owner of more than ten percent of any class of any equity security or who is a director or an officer of the issuer of such security to file with the Securities and Exchange Commission (and any national security exchange with which such security is registered) at the time of any change in such individual's ownership of such security a statement indicating such change. Establishes a $50,000 civil penalty for failing to file the required statements concerning securities ownership.