SEC Releases an Overview of US Securities Laws for Foreign Private Issuers | Practical Law

SEC Releases an Overview of US Securities Laws for Foreign Private Issuers | Practical Law

The SEC released an overview for foreign issuers that provides information about what is required of foreign private issuers to access US capital markets.

SEC Releases an Overview of US Securities Laws for Foreign Private Issuers

Practical Law Legal Update 5-524-3487 (Approx. 3 pages)

SEC Releases an Overview of US Securities Laws for Foreign Private Issuers

by PLC Corporate & Securities
Published on 21 Feb 2013 • USA (National/Federal)
The SEC released an overview for foreign issuers that provides information about what is required of foreign private issuers to access US capital markets.
On February 20, 2013, the SEC released an overview for foreign private issuers (FPIs) that are interested in gaining access to the US capital markets. The overview provides information about the Securities Act and the Securities Exchange Act, and generally outlines:
  • How to qualify for FPI status.
  • Registration and ongoing reporting obligations.
  • Exemptions from registration requirements.
  • The use of American Depositary Receipts to raise capital or establish a trading presence in the US.
For more information on FPIs, see Practice Notes, Which Non-US Companies Qualify as Foreign Private Issuers? and Periodic Reporting and Other Disclosure Obligations of Foreign Private Issuers: Overview.