TITLE

New ADR Policies Pose Problems for Foreign Issuers

AUTHOR(S)
KENTOURIB, CHRIS
PUB. DATE
January 2009
SOURCE
Securities Industry News;1/5/2009, Vol. 21 Issue 1, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports on the impact of amendments to the rules that exempt foreign stock issuers from U.S. reporting requirements on non-U.S. companies. An overview of the revision to Rule 12g3-2(b) of the Securities Exchange Act is offered. It states that when the rule went into effect on October 10, 2008, banks have filed registration statements for more than 1,000 unsponsored American Depositary Receipts (ADRs). It cites the goal of the U.S. Securities and Exchange Commission (SEC) in amending the rule.
ACCESSION #
36561117

 

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