Sullivan
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Howard Berkenblit was quoted in the article "Many Foreign Firms Could Face Stricter Access To US Markets," published by Law360 [sub. req'd].

The article examines the U.S. Securities and Exchange Commission's recent concept release, which questions whether the current definition of a “foreign private issuer” (FPI) remains appropriate in light of shifts in global markets. The FPI designation allows eligible foreign companies to benefit from reduced U.S. regulatory requirements, but the SEC is considering whether such relief remains justified, particularly for companies based in jurisdictions with limited regulatory oversight.

Howard noted that, rather than eliminating the category altogether, the SEC may look to bolster investor protections by requiring more robust disclosures. “If [regulators] feel there's a deficiency in what's being provided to U.S. investors, they can propose to require more disclosure akin to domestic companies,” he told Law360.