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This document proposes amendments to rules allowing foreign private issuers to terminate their registration of a class of securities and cease reporting obligations under the Securities Exchange Act
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How to fill out Termination of a Foreign Private Issuer's Registration of a Class of Securities

01
Obtain Form 15 from the SEC's website.
02
Complete the form, providing the necessary information such as the issuer's name, SEC file number, and details about the class of securities.
03
Indicate the reason for termination of the registration.
04
Make sure to meet the eligibility criteria, ensuring that the issuer has less than 300 shareholders in the U.S. or meets other termination requirements.
05
Review the form for accuracy and completeness.
06
Submit the completed Form 15 electronically through the SEC's EDGAR system.
07
Keep a copy of the submitted form for your records.

Who needs Termination of a Foreign Private Issuer's Registration of a Class of Securities?

01
Foreign private issuers who want to terminate their registration of a specific class of securities with the SEC.
02
Companies that no longer meet the reporting requirements or wish to simplify their compliance obligations.
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People Also Ask about

An FPI is any issuer (other than a government) organized under the laws of any country outside the United States, which also meets certain additional criteria provided by the SEC embodied in a two-step test.
A foreign private issuer is a company or entity that is incorporated or organized outside of the United States and meets specific criteria set by the U.S. Securities and Exchange Commission (SEC) to be classified as a "foreign private issuer." These companies are generally exempt from certain U.S. securities laws that
Rule 144 under the Securities Act provides a safe harbor under which non-affiliates of an issuer may resell "Restricted Securities" (as described below) without registration and affiliates of an issuer may resell any type of security (restricted or not) without registration.
New Exchange Act Rule 12h-6 will permit a foreign private issuer of equity securities to terminate its reporting obligations under either section 13(a) or section 15(d) of the Exchange Act by meeting a quantitative benchmark designed to measure relative U.S. market interest for its equity securities that does not
Termination is when a Deemed Liquidation Event happens, and Investors' registration rights go away. Examples include: At the point after the IPO when all Investors can freely sell their shares on the public market under Rule 144; 3-5 years following the IPO; and. Following the acquisition of the Company.
Companies that qualify for foreign private issuer status benefit from accommodations that provide full or partial relief from domestic issuer disclosure requirements.

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Termination of a Foreign Private Issuer's Registration of a Class of Securities refers to the formal process by which a foreign company ceases to be subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC) for a specific class of its securities.
Foreign Private Issuers that no longer meet the conditions for registration or that choose to deregister their securities are required to file for termination of registration.
To fill out the termination, the issuer must complete Form 15F, providing necessary details such as the issuer's name, address, the class of securities being terminated, reasons for the termination, and any other required disclosures as specified by the SEC.
The purpose is to relieve the issuer from the ongoing reporting obligations under U.S. securities laws, which can reduce administrative burdens and costs for the company.
The required information includes the name of the issuer, the class of securities, the reasons for termination, the number of securities held by U.S. shareholders, and a statement regarding compliance with applicable laws.
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