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Technology Stocks : SAP A.G.
SAP 243.97-1.3%12:45 PM EST
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To: Melissa McAuliffe who wrote (3018)1/31/1999 2:01:00 AM
From: jon iliz  Read Replies (1) of 3424
 
Hi Melissa,

The one of the many listing requirements for the NYSE (of a non-US company) are "Full registration under the Security exchange act of 1934. citibank.com

So when a foreign company registers under this exchange act: "All financial statements prepared in accordance with the GAAP of the country of domicile with full reconciliation to US GAAP including segment reporting" is required. citibank.com

Now the references above don't say if the compliance should be applied immediately or not. But at least for me, assuming it does not have to be immediate is downright crazy. Do you have a link which states otherwise? (Please no links to another SI hearsay poster)

I knew this was true even before SAP was listed because SAP informed its employees before hand as to what they had to do leading up to the listing.

Now BAAN on the NASDAQ may be a different thing. The above links should give you the answer you are looking for. -J
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