Applicability to Non - US Issuers 529
SOX-Migration last edited by
Hello to everybody,
Recently, a CEO of a Swiss Company mentionned in a conference that SOX would apply to its company because it would have more than 400 US Shareholders.
I strongly doubt whether this statement is correct. I have found nothing in the SOX nor in any other documents which would support this statement.
Does anybody know something about a threshold of US Shareholders which would render the SOX applicable for Non -US issuers?
Any help would be appreciated.
All the best from Switzerland
MikeE last edited by
This came up during another discussion:
(See Holger’s posting of 27 January.)
The consensus of that discussion would seem to be that the number of US shareholders only comes into play for a company which is already subject to SOx by virtue of being listed on a US exchange, but which wishes to de-list.
If you’re not listed on a US exchange, and none of those US shareholders (i) are listed and (ii) have a controlling interest in your company, then you shouldn’t be subject to the SOx regulations.