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Proposal Threatens Canadian Stocks

Traders Magazine, June 2008

Peter Chapman

The Securities and Exchange Commission, in an attempt to lighten the burden on foreign issuers of unregistered securities, may in fact be driving foreign companies away from U.S. securities markets. Dually listed Canadian companies are most at risk. That's the complaint from traders of over-the-counter securities, as well as the operator of the primary marketplace for unregistered foreign stocks, Pink OTC Markets. They applaud the SEC's efforts to relax certain requirements of Exchange Act Rule 12g3-2. But they oppose the regulator's proposal to add a new requirement to the rule that could force foreign companies to register with the SEC.

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