March 27, 2007
SEC Final Rule on Foreign Private Issuer's Deregistration
The SEC's Final Rule, Termination of a Foreign Private Issuer's Registration of a Class of Securities under section 12(g) and Duty to File Reports under sections 13(a) or 15(d), is now posted on its website. The rule permits a foreign private issuer to terminate its registration requirements by meeting a quantitative benchmark designed to measure U.S. market interest for its equity securities that does not depend on a head count of the issuer's U.S. securities holders (designed to eliminate the "Hotel California" problem).
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