• SEC Facilitates Departures by Foreign Private Issuers
  • May 4, 2007 | Authors: Jan J.H. Joosten; Gary J. Simon; Eduardo Vidal
  • Law Firm: Hughes Hubbard & Reed LLP - New York Office
  • On March 27, 2007, the United States Securities and Exchange Commission (the "SEC") published its new rules for deregistration by foreign private issuers, as unanimously adopted a week earlier on March 21, 2007. These new rules are in the form of amendments to the current registration regime that governs when a foreign private issuer may terminate the registration of a class of its equity securities and its corresponding duty to file reports, as well as when it may cease its reporting obligations regarding a class of debt or equity securities, all as required under the United States Securities and Exchange Act of 1934, as amended (the "Exchange Act").