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- in European Union
As previously covered, the final amendments update the forms to:
- reflect the disclosure requirements in Section 3 of the HFCA,
which require SEC-registered foreign issuers to disclose, among
other things:
- the percentage of the issuer owned by governmental entities in the foreign jurisdiction of the issuer;
- whether foreign governments in the jurisdiction of the relevant accounting firm have a controlling financial interest in the issuer;
- the names of any Chinese Communist Party "officials" who are members of the board of directors, of the company, or of an operating entity with respect to the issuer; and
- whether the issuer's articles of incorporation contain any Chinese Communist Party charter, including the text of any such charter; and
- require all SEC-registered issuers that are "not owned or controlled by a governmental entity in that foreign jurisdiction" to submit documentation on a supplemental basis establishing that they are not so owned or controlled.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
