SEC requests public comment on the definition of foreign private issuer

On June 4, the SEC published a “concept release” seeking public comment on potential amendments to the definition of “foreign private issuer” (FPI) under the Securities Act and the Exchange Act. The SEC issued the release in response to significant changes in recent years in the composition and operations of foreign issuers currently benefiting from the FPI regime on compliance with U.S. securities regulation, including a substantial increase in FPIs whose equity securities trade almost exclusively on U.S. capital markets.