Form 20-F

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Form 20-F is a reporting requirement that must be filed annually by the United States Securities and Exchange Commission ( SEC ) for all "foreign securities issuers" who have stocks listed on the United States stock exchanges . Form 20-F requires an annual report to be submitted within six months of the company's end of fiscal year or if the fiscal year end date has changed.

Reporting and eligibility requirements for the Form 20-F are set forth in the Securities Exchange Act of 1934 . The information requirements are not as strict as for US domestic companies. Companies in which less than 50 percent of the voting shares are held by US investors can be exempted from the special reporting requirement.

Once a company ceases to meet foreign issuer status, it must submit the same periodic reports as US domestic companies, such as 8-K, 10-Q, and 10-K reports, and accounting compliance with US GAAP -Comply with accounting standards.

Goal of the 20-F report

The aim of Form 20-F is to standardize the reporting requirements of foreign companies so that investors can compare these investments with investments in domestic stocks as objectively as possible. The report must be presented in simple, easily understandable English.

Importance of the 20-F for investors

The very strict 20-F reporting also enables foreign investors, especially private investors, to gain a deeper insight into the business activities of companies from around the world that are second-listed in the USA, since all reports are regularly available for free download on the Internet.

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