The Wall Street Journal reports today that the SEC has approved new rules for "reverse merger" listings. Reverse merger listings are a way for foreign companies to obtain a listing on a US exchange without going through the registration process with the SEC. Foreign companies merge with publicly-traded shell companies to effect the reverse merger listing. The problem is that the merger process has allowed foreign companies without strong accounting controls to become publicly traded in the US. Here's the link to the WSJ story: http://professional.wsj.com/article/SB10001424052970204358004577028381460208046.html
The new rules make it tougher for foreign companies to list via reverse mergers. I applaud this move.
The new rules make it tougher for foreign companies to list via reverse mergers. I applaud this move.
