Foreign Private Issuers

SEC Staff: Are Differences for FPIs Still Justified?

Tammy Whitehouse March 16, 2012

As the world awaits a decision from the SEC on U.S. adoption of international accounting standards, agency staffers are wondering whether they should consider changes in reporting requirements for foreign companies listed on U.S. exchanges. So many foreign issuers now list solely in the United States, they say, that reporting standards may need to be tightened.

Poll: U.S. Companies Not Moving to IFRS Without Mandate

Melissa Klein Aguilar November 01, 2010

Most companies say they could be ready for a move to International Financial Reporting Standards, but won't switch until mandated, even if early adoption is allowed, a survey of accounting and financial reporting executives by KPMG and Financial Executives International shows.Among more than 900 FEI and KPMG IFRS Institute members...

Proxy Access Rules Effective Nov. 15, but Who Is Affected?

Melissa Aguilar September 16, 2010

At last, Corporate America finally has the answer to a question it's been awaiting for weeks: When will the Securities and Exchange Commission's new proxy access rule take effect?The answer—Nov. 15.—arrived with the rule's publication in the Federal Register on Sept. 16. That means shareholder nominees will be allowed at...

IFRS Statement Keeps 2011 Decision Date, Delays Adoption

Melissa Aguilar February 24, 2010

The Securities and Exchange Commission voted unanimously today to publish a statement updating its position on the possible adoption by U.S. companies of International Financial Reporting Standards that keeps a 2011 deadline for making a final decision on whether or not to make the move, but would delay adoption until...

Poll: Most Finance Execs Support SEC IFRS Roadmap

Melissa Aguilar October 08, 2009

With convergence front-and-center once again, most finance professionals say they would support the Securities and Exchange Commission's approval of its proposed roadmap for adopting International Financial Reporting Standards, but the majority think the SEC should push back the mandatory deadline by a year.That's according to a survey of more than...

Changes to NYSE Immediate Release Policy in Effect

Melissa Aguilar May 18, 2009

Reminder to NYSE-listed companies: Recent changes to the Exchange's immediate release policy are now in effect.Changes to NYSE Rule 202.06 allow companies to disseminate material information by any Regulation Fair Disclosure-compliant method to comply with the immediate release policy, rather than always requiring companies to issue a press release as...

XBRL Adopting Release Arrives

Melissa Aguilar January 30, 2009

Just in time for the weekend, financial reporting executives have some light reading, courtesy of the Securities and Exchange Commission.The agency has finally posted the long-awaited 206-page adopting release for the rule mandating the use of XBRL technology. The rule, formally known as Interactive Data to Improve Financial Reporting, was...

SEC Approves Final XBRL Rule

Melissa Aguilar December 17, 2008

Just in time for the holidays, large companies got a gift from the Securities and Exchange Commission: Six extra months to comply with the long-awaited new rule mandating the use of interactive data.At its Dec. 17 open meeting, the SEC voted 4-1, with Commissioner Luis Aguilar dissenting, to adopt amendments...

FPI Amendments, Cross-Border Tender Offer Guidance

Melissa Aguilar September 24, 2008

For those looking for some light reading, the Securities and Exchange Commission has posted the 119-page adopting release for its Foreign Issuer Reporting Enhancements, part of a package of amendments approved Aug. 27 to modernize its rules relating to foreign private issuers.As Compliance Week reported, most of the amendments are...

Adopting Release for 12g3-2(b) Changes Posted

Melissa Aguilar September 10, 2008

The Securities and Exchange Commission has posted the 74-page adopting release for the amendments to its rule, Exemption From Registration Under Section 12(g) of the Securities Exchange Act Of 1934 for Foreign Private Issuers.The exemption allows an FPI to have its equity securities traded in the U.S. over-the-counter market without...

SEC Okays NYSE Rule Change for FPIs

Melissa Aguilar September 04, 2008

The Securities and Exchange Commission approved and published for comment an NYSE rule change that waives for foreign companies the application of a listing rule that requires them to be eligible for participation in a direct registration system operated by a securities depository.While Section 501.00 of NYSE’s Listed Company Manual...

Update on FPI Disclosures

Melissa Aguilar September 04, 2008

The Securities and Exchange Commission may have spent most of its time last week mapping out a schedule to adopt International Financial Reporting Standards, but it did also vote to update and modernize the disclosure requirements for foreign issuers offering securities in U.S. markets.The rules adopted Aug. 27 mean foreign...

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