The Securities and Exchange Commission may free some foreign companies from the agency’s oversight as long as they make financial disclosures widely available to investors over the Internet.
S.E.C. commissioners, in a unanimous vote Wednesday, took a step toward exempting foreign companies from registering their shares with the agency as long as they published financial statements in English on their Web sites.
The new policy would “make it much easier for U.S. investors to gain access to a foreign private issuers’ disclosures,” the S.E.C. chairman, Christopher Cox, said at a public meeting in Washington.
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