Download Now Free registration required
In an attempt to make U.S. financial markets more attractive for foreign firms, a new Securities and Exchange Commission deregulation effort post-Sarbanes-Oxley has had the opposite effect. The outcome has been that one of the historically-rarest type of cross-listing is now the most prevalent, courtesy of depositary banks creating unsponsored American deposit receipts (ADRs). The author reveals that the majority of foreign firms are now trading on Over-The-Counter (OTC) markets rather than major exchanges, to their detriment.
- Format: HTML
- Size: 0 KB