Insights and Analysis

Cross-border SEC spotlight: Key updates for non-U.S. companies – Q2 2025

15 July 2025

financial stock market graph on technology abstract background represent risk of investment

Welcome back to our Hogan Lovells Cross-border SEC spotlight: Key updates for non-U.S. companies, a dedicated resource for non-U.S. companies listed or exploring a listing in the United States. This newsletter is published quarterly to provide regular updates on significant regulatory developments, market trends, and industry best practices that impact U.S. compliance and reporting obligations.

In this edition, we provide our insights on relevant SEC developments during Q2 2025, including the SEC's solicitation of public comment on the foreign private issuer definition, an update on EDGAR Next, the SEC's executive compensation roundtable, the end of the FCPA “enforcement pause”, new CD&Is on the compensation clawback rules, the settlement of the SolarWinds action and changes to certain NYSE and Nasdaq rules.

To ensure you never miss an update, we invite you to subscribe to our updates here. By doing so, you'll receive our quarterly newsletter straight to your inbox, along with alerts on key developments affecting non-U.S. companies listed or exploring a listing in the United States. We look forward to keeping you informed and supporting you in navigating the U.S. public market.

Click here to read our full Q2 – July 2025 issue.

Click here to read the Q1 – April 2025 issue.

Authored by Richard Aftanas, Rupa Briggs, Jonathan Lewis, Alex Parkhouse, Stephanie Tang, and Mark Devlin.