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SEC Approves Streamlined Deregistration for Foreign Private Issuers
Over the last several years, foreign private issuers have become disenchanted with the significant costs of SOX compliance. But Torys attorneys Joris Hogan and Alicia Gimenez explain that on Tuesday, the SEC released amended rules that will make it easier for foreign private issuers to withdraw from U.S. securities markets. These issuers should now more readily be able to meet the test for deregistration under the Exchange Act, which should make U.S. markets more inviting to foreign private issuers.