How...can SOX affect mexican industries?? 2302
Prinny last edited by
well I’d like to know this because…well…I really don’t undestand it at all…
Denis last edited by
SOX should only affect Mexican companies that are listed in the United States, in these circumstances it is the same as for any other foreign filer. There are several threads on this board that cover it.
If the Mexican company is not listed in the US there should be no direct impact of SOX.
gmerkl last edited by
I would like to emphasize that SOX does not only apply to companies where the parent company has listed securities on a national stock exchange in the U.S., but also where the equity securities are traded over-the-counter in the U.S. (unless certain exceptions are used) or where securities have been publicly offered in the U.S. In all three cases there is an obligation to register the securities with the U.S. Securities and Exchange Commission and to provide annual reports to the SEC.
So Mexican parent companies or Mexican subsidiaries, joint ventures or even associaties of a U.S., Mexican or other parent with one of the three usages of the public securities market of the U.S. mentioned above are potentially impacted.
You can check this by going to the SEC’s website to the Division of Corporation Finance which maintains a list of foreign private issuers sorted by Geography (i.e. country) and checking whether the name of your Mexican parent shows up in the list. If you company is just a subsidiary it depends if its size is material to the consolidated financial statements of the parent.