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Legal Update

No-Action Relief Granted With Regard To Certain Foreign Issuer Preliminary Proxy Filing Requirements

9 April 2014
Mayer Brown Legal Update

The staff of the US Securities and Exchange Commission has issued no-action letters to certain foreign issuers that are subject to the SEC’s proxy rules. These issuers have been allowed to avoid filing preliminary proxy statements with the SEC where the only proposals being acted upon at the stockholders’ meetings are matters required by applicable foreign law or matters specifically exempted from preliminary proxy filing requirements by Rule 14a-6 under the Securities Exchange Act of 1934. While the no-action relief is limited to the foreign jurisdictions and proposals discussed, these no-action letters may evidence the Staff’s willingness to grant such relief to comparable requests from other foreign issuers.

Authors

  • Laura D. Richman
    T +1 312 701 7304
  • David S. Bakst
    T +1 212 506 2551
  • Harry R. Beaudry
    T +1 713 238 2635
  • John P. Berkery
    T +1 212 506 2552
  • Edward S. Best
    T +1 312 701 7100
  • Bernd Bohr
    Partner
    T +44 20 3130 3640
  • Robert E. Curley
    Senior Counsel, Independent Contractor
    T +1 312 701 7306
  • Paul C. de Bernier
    T +1 213 229 9542
  • Robert M. Flanigan
    T +44 20 3130 3488
  • Robert F. Gray, Jr.
    T +1 713 238 2600
  • Lawrence R. Hamilton
    T +1 312 701 7055
  • Michael L. Hermsen
    T +1 312 701 7960
  • Philip J. Niehoff
    T +1 312 701 7843
  • David A. Schuette
    T +1 312 701 7363
  • Jodi A. Simala
    T +1 312 701 7920
  • Frederick B. Thomas
    T +1 312 701 7035
  • Kirk Tucker
    T +1 713 238 2500
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