SEC Requests Feedback on Definition of Foreign Private Issuer

The SEC has published for public comment a concept release on the definition of a foreign private issuer (FPI). The release is being issued in response to “several developments within the FPI population since the Commission last conducted a broad review of reporting FPIs and the eligibility criteria for FPI status.” Using the feedback received on the release, the SEC will consider whether to revise the current definition of FPI “so that it better represents the issuers that the Commission intended to benefit from current FPI accommodations while continuing to protect investors and promote capital formation.”

For more information, see the press release — as well as statements by SEC Chairman Paul Atkins and SEC Commissioners Hester Peirce and Caroline Crenshaw — on the SEC’s Web site.