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GAO-09-98R 1 (2008-10-20)

handle is hein.gao/gaobadwux0001 and id is 1 raw text is: im T V WAccountability * Integrity * Reliability United States Government Accountability Office Washington, DC 20548 B-317283 October 20, 2008 The Honorable Christopher J. Dodd Chairman The Honorable Richard C. Shelby Ranking Minority Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Barney Frank Chairman The Honorable Spencer Bachus Ranking Minority Member Committee on Financial Services House of Representatives Subject: Securities and Exchange Commission: Foreign Issuer Reporting Enhancements Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Securities and Exchange Commission (Commission), entitled Foreign Issuer Reporting Enhancements (RIN: 3235-AK03). We received the rule on September 24, 2008. It was published in the Federal Register as a final rule on October 6, 2008. 73 Fed. Reg. 58,300. The final rule amends Commission rules relating to foreign private issuers-these rules are intended to enhance the information that is available to investors. These amendments are part of a series of initiatives that seek to effect changes in disclosure and other requirements applicable to foreign private issuers in light of market developments, new technologies, and other matters in a manner that promotes investor protection and cross-border capital flows. The final rule has an effective date of December 5, 2008. Enclosed is our assessment of the Commission's compliance with the procedural steps required by section 801(a)(1)(B)(i) through (iv) of title 5 with respect to the rule. Our review indicates that the Commission complied with the applicable requirements. GAO-09-98R

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