January 19, 2012 (Mountain View, CA) – Horace Nash, co-chair of the Securities Group with Fenwick & West, was recently quoted in the Wall Street Journal article "SEC Clamps Down on Secrecy in Foreign IPOs."
The Securities and Exchange Commission has recently instituted a new policy that will do away with confidential filings of foreign IPOs. This change comes in the wake of the meltdown of several high-profile Asian stocks traded in the United States.
Under the new guidelines, some confidentiality will still be afforded to foreign issuers, but the change is designed to "promote transparency and investor protection," according to the SEC. This makes the evaluation process of these stocks easier for both analysts and investors.
Horace Nash says, "If a large Chinese auto company decides to do an IPO in the U.S., it’s not going to have a problem filing all its statements on Edgar. It's going to be the dodgy companies that are affected, and that will be a good thing."
Click here to read the full Wall Street Journal article.