SEC Seeks To Streamline Reporting, Filing Policies

Law360, New York (December 5, 2005, 12:00 AM EST) -- The Securities and Exchange Commission is taking steps to overhaul some of its filing requirements, hoping to reexamine reporting rules for foreign companies, accelerate filings, and simplify accounting language.

The SEC will take another look at some of its reporting requirements, voting December 14 on whether foreign companies with only a few U.S. shareholders should have to continue reporting to the SEC.

Currently, foreign companies must continue to file with the SEC as long as they have more than 300 U.S. shareholders. In an October speech,...
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