SEC Proposes Foreign Issuer Reporting Enhancements

Originally published 10 March, 2008

Keywords: Securities and Exchange Commission, foreign private issuers, US GAAP, financial statements, segment data disclosure, annual determination date; Form 20-F; Form F-1; Form F-4

The Securities and Exchange Commission has proposed amendments to the rules relating to foreign private issuers. The amendments are intended to improve accessibility to the US public capital markets for these issuers, and to enhance information that is available to investors (Release Nos. 33-8900; 34-57409). Comments are due on or before May 12, 2008.

The principal proposals would:

• Allow foreign issuers to determine if they are qualified to use foreign private issuer forms and rules once a year, rather than continuously;