US

SEC proposes that non-US issuers be required to file reports electronically on EDGAR

Sara Hanks and Daniel Bushner, Clifford Chance

On 1 October 2001, the US Securities and Exchange Commission (SEC) proposed rule amendments that would require non-US companies and governments to make filings with the SEC electronically through the Electronic Data Gathering, Analysis and Retrieval (EDGAR) system. On their face, these proposals may seem to be straightforward – merely a matter of filing mechanics. However, non-US issuers may encounter some unexpected problems.