Firm Memoranda

SEC Eases De-registration Rules for Foreign Private Issuers

Date: 03/30/07

On March 21, 2007, the Securities Exchange Commission ("SEC") adopted a new set of rules that simplify the de-registration process for foreign private issuers ("FPI"). The adoption of the new rules has been well received since the procedures which FPIs were previously required to follow to terminate or suspend their reporting obligations under the Securities Exchange Act of 1934, as amended (the "Exchange Act") had been viewed as unduly cumbersome and costly to the point where they have acted as a deterrent to foreign companies which would otherwise avail themselves of the U.S. capital markets.

33007_CGR Memo re SEC Eases De-registration Rules for Foreign Private Issuers.pdf (pdf | 47.04 KB )