Foreign Private Issuer Status: The Two-Part Test That Determines U.S. Securities Reporting Obligations

Inside Securities Law with Frederick M. Lehrer · Nov 5, 2026 · 6m

Foreign Private Issuer Status: The Two-Part Test That Determines U.S. Securities Reporting Obligations

Inside Securities Law with Frederick M. Lehrer

For companies organized outside the United States, foreign private issuer (FPI) status is one of the most important classifications under U.S. securities law. It determines which Securities and Exchange Commission (SEC) reporting requirements, disclosure obligations, and regulatory accommodations may apply.

In this episode of Inside Securities Law, securities attorney and former SEC enforcement attorney Frederick M. Lehrer explains the two-part…