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Foreign private issuers (FPIs) are corporations or non-government entities formed under the laws of a jurisdiction outside the United States that meet the requirements (often referred to as the “shareholder test” and “business contacts test”) set out in Rule 405 under the Securities Act of 1933. FPIs are subject to certain reporting obligations, but fewer than those required by domestic public companies. Use this template as the basis for a presentation explaining an FPI’s obligations to the board of directors of a company that will soon become a foreign private issuer.
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