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Apr 17, 2012

JOBS Act: Focus on Foreign Private Issuers

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The enactment of the US JOBS Act will relax certain of the requirements and restrictions around securities offerings and public reporting obligations in the United States. These changes will apply to both US domestic and foreign private issuers. The most significant modifications provided by the JOBS Act for foreign issuers accessing the US capital markets include immediately effective changes to the offering process for SEC-registered IPOs and ongoing SEC reporting obligations for companies with less than US$1 billion in gross revenues, including an exemption for up to five years from the SOX Section 404 requirement to obtain an annual attestation report from a registered public accounting firm; and enhanced publicity for Rule 144A offerings and the facilitation of public offerings of US$50 million or less to be implemented by SEC rulemaking.

View full memo, "JOBS Act: Focus on Foreign Private Issuers"

Authors and Contributors

Stuart K. Fleischmann

Partner

Capital Markets

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+1 212 848 7527

New York

Jason Lehner

Partner

Capital Markets

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Toronto

Manuel A. Orillac

Partner

Capital Markets

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+1 713 354 4886

Houston

Antonia E. Stolper

Partner

Capital Markets

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+1 212 848 5009

New York

Matthew Bersani

Partner

Capital Markets

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+852 2978 8096

Hong Kong

Masahisa Ikeda

Partner

Capital Markets

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Tokyo

Kyungwon (Won) Lee

Partner

Capital Markets

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+1 212 848 8078

New York

Andrew Schleider

Partner

Capital Markets

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Singapore

David Dixter

Partner

Capital Markets

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+44 20 7655 5633

London

Domenico Fanuele

Partner

Capital Markets

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Rome

Sami Toutounji

Partner

Compensation, Governance & ERISA

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