October 12, 2006
FPI's Awaiting Easier De-registration will have to wait a little longer...
Some companies who are Foreign Private Issuers (FPI) who do not have a need for their US listing got news today that they will have to wait little longer to be able to de-register from US markets.
An excerpt from MarketWatch:
"the SEC said it will finalize a proposal on using Internet proxy communications and a second proposal that would make it easier for non-U.S. companies to deregister shares that trade in the U.S. SEC guidance to help corporate managers comply with the internal-control requirements of the 2002 Sarbanes-Oxley Act also will be on the agenda for the Dec. 13 meeting, according to the SEC..." for the complete article, click here.
So folks it will happen, but it will not happen soon enough for some. They have extended the deadline for these important issues. So really we are talking 2007 for these changes to take place.
If your company has to comply with Sarbanes-Oxley Section 404, see www.issuescentral.com for more information on Compliance Playbook(tm) or if your required ICFR project is regulated by CSA MI 52-109, see www.compliancepartner.ca to learn more about Compliance Partner(tm).
An excerpt from MarketWatch:
"the SEC said it will finalize a proposal on using Internet proxy communications and a second proposal that would make it easier for non-U.S. companies to deregister shares that trade in the U.S. SEC guidance to help corporate managers comply with the internal-control requirements of the 2002 Sarbanes-Oxley Act also will be on the agenda for the Dec. 13 meeting, according to the SEC..." for the complete article, click here.
So folks it will happen, but it will not happen soon enough for some. They have extended the deadline for these important issues. So really we are talking 2007 for these changes to take place.
If your company has to comply with Sarbanes-Oxley Section 404, see www.issuescentral.com for more information on Compliance Playbook(tm) or if your required ICFR project is regulated by CSA MI 52-109, see www.compliancepartner.ca to learn more about Compliance Partner(tm).
