SEC rules audit committee Proxy statements 2110

  • Does anyone know if the proxy statement issued with regards to Audit Committees under SEC rules differs where the issuer is an accelerated FPI?

  • As an accelerated FPI we adopted the SEC’s rule 240.10A-3. Section 10A of the Exchange Act makes no distinction based on an issuer’s size.
    Our Fiscal Council acts as our audit committee for purposes of the Sarbanes-Oxley Act of 2002 under Section 10A-3 of the SEC rules on Audit Committees of listed companies, non-U.S. issuers are permitted not to have a separate Audit Committee made up of independent members if there is a Fiscal Council established and chosen in accordance with the legal rules of its origin country, expressly requiring or allowing that such council follow certain obligations.

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