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Securities Exchange Act of 1934
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Re: |
Incoming Letter dated July 24, 2007 |
You have requested the Division's views with respect to whether foreign private issuers whose securities are traded through the PORTAL® Market operated by the Nasdaq Stock Market LLC would continue to be eligible under the exemption provided under Rule 12g3-2(b) under the Securities Exchange Act of 1934 because that market may be deemed an "automated inter-dealer quotation system" for purposes of the exclusion under Rule 12g3-2(d)(3). On the basis of the representations made in your letter, it is the position of the Division that a foreign private issuer would continue to be eligible to claim the exemption under Rule 12g3-2(b) notwithstanding that the securities of the issuer are traded through the PORTAL® Market because that market is not deemed to be an "automated inter-dealer quotation system" for purposes of Rule 12g3-2(d)(3).
Because this position is based upon the representations made in your letter, any different facts or conditions might require a different conclusion.
Sincerely,
Paul M. Dudek
Chief
The Incoming Letter is in Acrobat format.
http://www.sec.gov/divisions/corpfin/cf-noaction/2007/portal073107-12g32b.htm
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