foreign private issuers

Are You a Foreign Private Issuer?

Author: Skadden, Arps, Slate, Meagher & Flom LLP

As part of its long-standing policy to encourage foreign companies to access the U.S. capital markets, the United States Securities and Exchange Commission (SEC) historically has made significant regulatory accommodations to foreign companies that qualify as “foreign private issuers,” also known as “FPIs.”

However, not every company organized outside the United States is a foreign private issuer. Rather, the U.S. securities laws distinguish between foreign companies that are truly foreign in nature and foreign companies that are so closely associated with the United States that policy considerations dictate that they should be subject to the same registration and disclosure requirements applicable to domestic U.S. companies. Given the significant accommodations afforded to foreign private issuers under U.S. securities laws, it is critical that companies be able to evaluate with precision their status. To view the full Corporate Finance Alert from Skadden, Arps, Meagher & Flom, please click here.

By : Securex /January 08, 2014 /Compliance, foreign private issuers, Securites Law /1 Comment Read More

Draft Registration Statements Required to Be Submitted and Filed Using EDGAR Beginning October 15, 2012

Beginning October 15th, 2012, the SEC will require certain Emerging Growth Companies and foreign private issuers to submit draft registration statements for non-public review via the EDGAR system.

The new requirement includes draft registration statements, amendments as well as all correspondence.

Details are available in Release 12.2 of the revised EDGAR Filer Manual.

Companies that have already submitted a draft registration statement using the secure email system should comply with the instructions previously provided to them by letter about how to transition to the EDGAR system.

By : Securex /October 11, 2012 /CORRESP, foreign private issuers, General EDGAR filing, Registration Statements, SEC Forms, SEC News and Public Statement /0 Comment Read More