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2016

March 24, 2016 — NYSE Adopts Rule Change Requiring Listed Foreign Private Issuers to Submit Semiannual Unaudited Financial Information to the SEC on Form 6-K

NYSE Adopts Rule Change Requiring Listed Foreign Private Issuers to Submit Semiannual Unaudited Financial Information to the SEC on Form 6-K

Accounting Journal Entry
March 24, 2016 — On February 19, 2016, the SEC issued a release1 providing notice of filing and immediate effectiveness of a proposed rule change (the “rule”)2 of the New York Stock Exchange (NYSE) related to financial reporting by foreign private issuers (FPIs). The rule amends the NYSE Listed Company Manual (the “Manual”) to adopt a requirement that NYSE-listed FPIs submit to the SEC a Form 6-K that includes semiannual unaudited financial information. Specifically, the SEC’s release indicates that the NYSE has added a new Section 203.03 to the Manual to “provide that each listed [FPI] must, at a minimum, submit to the SEC a Form 6-K that includes (i) an interim balance sheet as of the end of its second fiscal quarter and (ii) a semi-annual income statement that covers its first two fiscal quarters” no later than six months after the issuer’s second fiscal quarter. This requirement is effective for fiscal years beginning on or after July 1, 2015. On the basis of this effective date, an affected issuer with a June 30, 2015, year-end would have to furnish semiannual interim financial information on Form 6-K for the period ended December 31, 2015, by June 30, 2016.

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