.
A public meeting, scheduled for 13 pm in Washington, comes a year after Republican Commissioner Mark Ueda called for a public comment on the definition of foreign firms in public. He highlighted Chinese companies how to use simpler claims, even if they are traded exclusively in the US stock markets.
The commission should think whether to issue a call for public commentary on possible new rules, the essence of which SEC has not yet released.
Agency and Uyeda press -secretary refused to comment.
Last year, Harvard Ueda said that companies were primarily owned and operated abroad, qualified as “foreign private issuers” – that is, they had to submit only annual reports and random market updates, even if they were traded exclusively on the US Stock Exchange.
According to Uyeda, the 2024 congressional study found that almost 90% of 265 Chinese companies are publicly traded in the US.
On the other hand, US companies that trade on the same exchanges fall under the full volume of US securities, including quarterly financial statements, proxy rules and rapid disclosure of “material events” such as mergers and departures, said at the time.
“This issue deserves attention, and the SEC should consider assessing whether foreign private issuers should restrict companies whose securities are also included on a foreign exchange,” the Ueda said.
(Report by Douglas Gilisson in Washington; editing Megan Davis and David Gregorio)
