The Securities and Exchange Commission is scheduled to vote Dec. 13 on proposals that would make it easier for foreign companies to delist from U.S. stock exchanges and clarify rules for proxy fights.

Under the current delisting rule, which dates to the 1960s, foreign companies seeking to remove their securities from U.S. stock exchanges must have fewer than 300 U.S. shareholders. Overseas-based companies argue that verifying residency of such a specific number of shareholders is too difficult.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]