The SEC issues amendment to International Disclosure standards

DOUGLAS P. FAUCETTE, Muldoon Murphy & Faucette LLP, (assisted by Roy E. Brownell II)

Introduction

The Securities and Exchange Commission (“SEC”) recently adopted technical amendments to the rules governing foreign private issuers. These amendments, which went into effect on June 11, 2001, involve the international disclosure standards of Form 20-F under the Securities Exchange Act of 1934 (“1934 Act”) and registration statements on Form F-2 and F-3 under the Securities Act of 1933 (“1933 Act”). Although these amendments are by definition not major departures from the final regulations, they are still important to note for foreign private issuers because they clarify requirements that previously were somewhat ambiguous.