The New York Stock Exchange (NYSE) announced the adoption of a rule change (the Rule Change) to its Listed Company Manual (the Manual) that would affect listed foreign private issuers (FPIs).1 In adopting the Rule Change, the NYSE has narrowed the gap in reporting requirements that currently exists between NYSE-listed FPIs and NYSE-listed domestic issuers. The Rule Change is effective retroactively from Feb. 5, 2016.

Under the Rule Change, new Section 203.03 requires NYSE-listed FPIs to submit semi-annual unaudited financial information on Form 6-K to the Securities and Exchange Commission (the SEC). Unlike NYSE-listed domestic issuers, NYSE-listed FPIs were previously not subject to interim financial reporting requirements under the NYSE rules.2 New Section 203.03 makes such reporting mandatory for an NYSE-listed FPI irrespective of whether there is a home country requirement to provide interim information. Given that Nasdaq-listed FPIs are subject to interim financial reporting requirements under Rule 5250(c)(2) of the Nasdaq Listed Company Manual, the Rule Change aligns NYSE-listed FPIs with Nasdaq-listed FPIs on this point.

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