 Article
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SEC Proposes New Rules for Foreign Private Issuers to Exit the SEC Reporting System |
February 3, 2007
Previously published on December 15, 2006
The SEC has proposed new Rule l2h-6 under the 1934 Act that would allow a foreign private issuer
to terminate its registration of a class of equity securities under 1934 Act Section 12(g) and its
resulting Section 13(a) reporting obligations or terminate, and not merely suspend, its Section
15(d) reporting obligations regarding a class of equity securities as long as the issuer meets
specified criteria designed to measure U.S. market interest for that class of securities; and terminate, and not merely suspend, its Section 15(d) reporting obligations regarding a class
of debt securities as long as it meets conditions similar to the current requirements for
suspending its reporting obligations relating to that class of debt securities.
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The views expressed in this article are solely the views of the author and not Martindale-Hubbell. This article is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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