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16000 General
us SEC - Financial Reporting Manual
(Last updated: 6/30/2013)
Effective July 1, 1991, the SEC adopted a multijurisdictional disclosure system ("MJDS") for Canadian issuers. The MJDS adopted by the SEC allows eligible Canadian issuers to register securities under the Securities Act and to register securities and report under the Exchange Act by use of documents prepared largely in accordance with Canadian requirements.
NOTE: In 2008, the SEC adopted revisions to Form 20-F and related rules and forms. The revisions can be found in Foreign Issuer Reporting Enhancements, (Release No. 33-8959) at http://www.sec.gov/rules/final/2008/33-8959.pdf. Most of these revisions do not apply to Form 40-F and do not change the requirements for issuers under MJDS. However, an MJDS filer is required to test its status as a foreign private issuer only as of the last business day of its second fiscal quarter under the new rules. See Section 6110.2. |
A Canadian issuer filing under the Multi-Jurisdictional Disclosure System ("MJDS") may qualify as an EGC. While the disclosure requirements for the Canadian issuer would continue to be established under its home country standards in accordance with the MJDS, other provisions of Title I, such as the deferral of compliance with Section 404(b) of the Sarbanes-Oxley Act, would be available to an MJDS filer that qualifies as an EGC. See Topic 10.
This is a work of the U.S. Government
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