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SEC Concept Release Regarding Foreign Private Issuer Eligibility

On June 4, 2025, following an open meeting of the Securities and Exchange Commission, the Commission issued a concept release to solicit public comment on the definition of foreign private issuer ("FPI")....more

Key Considerations for the 2025 Annual Reporting Season: Your Upcoming Form 20-F and other FPI-Specific Considerations

With the inauguration of US President Trump on January 20, 2025, public companies await the impact of the new administration on the US Securities and Exchange Commission ("SEC"). President Trump's pick for the next SEC Chair,...more

Foreign Private Issuers: Don’t Forget to Confirm Your FPI Status!

As we enter the second half of the year, it is once again time for many foreign private issuers (“FPIs”) to complete their annual assessment of FPI status. The determination of whether an issuer is an FPI must be made as of...more

Global IPOs: Seeking signs of stabilization

Resetting expectations - It was clear in the opening months of 2022 that the winds had changed for the global IPO market as compared to the prior year, a rocky path that continued throughout the year and into the first...more

European IPO activity proved strong, led by e-commerce and tech listings

While IPO activity was robust throughout Europe, the Nordic region stood out - It was a blockbuster year for IPOs of European firms, following the global trend. In total, 476 European firms listed last year, excluding...more

FCA SPAC Consultation – Draft Rules Published

The FCA has today published a consultation paper proposing changes to the Listing Rules applicable to Special Purpose Acquisition Vehicles (SPACs). The FCA's main proposal is to remove the existing presumption in the...more

Direct listings—something new, or variations on a theme?

There has been a lot of publicity and interest surrounding the direct listings of Spotify (2018) and Slack (2019) in the United States. In many respects, these transactions resemble the traditional "introduction" which has...more

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