Guide to Public ADR Offerings in the United States 2016

Our Firm recently updated our memorandum discussing the principal issues arising in SEC-registered ADR offerings. The memorandum presents a comprehensive summary of various legal and related considerations involved in public offerings of ADRs, which should prove particularly valuable to foreign issuers and their boards of directors, management, shareholders and advisers. The memorandum reflects various developments since it was last published in October 2012, including a number of new SEC rules and regulations. In addition, the memorandum describes the New York Stock Exchange and Nasdaq listing standards and governance requirements applicable to foreign issuers.