ICYMI, here’s something Alan shared on Section16.net on Friday:

On Wednesday, the SEC issued an exemptive order adding three more “qualifying jurisdictions” and “qualifying regulations” to the six listed in its March 5 order exempting covered insiders from Section 16(a) if foreign laws already impose on them substantially similar requirements.

The three additional qualifying jurisdictions are Australia, India, and Singapore, and the three additional qualifying regulations are listed in the exemptive order. The exemption extends to insiders of an issuer organized in a qualifying jurisdiction (now numbering nine) even if the insider is subject to the qualifying regulation of another qualifying jurisdiction (e.g., the issuer is organized in India but its securities trade in Canada and the insider is required to report transactions under the Canadian qualifying regulation).

To qualify for the exemption, insiders must comply with all the requirements set forth in the March 5 order discussed in my prior blog.

– Meredith Ervine