Reiterates that FPIs that qualify as emerging growth companies (EGCs) under the JOBS Act can submit draft registration statements in the same manner as other EGCs. However, an FPI that is eligible to submit a registration statement nonpublicly under both the EGC and the foreign issuer procedures must adhere to the EGC procedure if it plans to take advantage of any of the other accommodations available to EGCs. This means, among other things, that the foreign issuer EGC must file the original submission and all amendments at least 21 days before any road show for the offering.

States that all nonpublic submissions initially made under the foreign issuer procedure after May 30, 2012 must be publicly filed at the time the issuer makes its first public filing of its registration statement. At that time, the foreign issuer must also resubmit all previously submitted issuer response letters to staff comments as correspondence on EDGAR. All staff comment letters and issuer response letters will be posted on EDGAR according to staff policy. This is the same procedure that EGCs must follow when making their initial public filing of a registration statement that had previously been confidentially submitted.