SEC Adopts Rules Easing Deregistration by Foreign Private Issuers
On March 21, 2007, the Securities and Exchange Commission adopted rules designed to make it easier for foreign private issuers to deregister their securities and to terminate their reporting obligations under the U.S. Securities Exchange Act of 1934. The rules became effective on June 4, 2007. This memorandum addresses the newly-adopted rules and their implications for foreign private issuers that wish to deregister.