July 4, 2007
I do not favor lessening the financial and reporting standards for foreign companies wishing to trade their securities in the U.S. financial market.
As an independent investor, it is difficult enough identifying and analyzing current and relevant information to evaluate potential and existing investments. I envision the degree of difficult will be increased considerably by not knowing if the fundamentals of two companies, one U.S. and the other foreigh, are in fact equal comparisons if a foreign firm is allowed to follow non-U.S. financial and reporting practices.
Or, even if stated that the foreign firm is not following U.S. financial and reporting practices, how an individual investor would be able to convert the fundamental analysis into like terms.
Reguiring all companies trading on an U.S. exchange to follow U.S. financial and reporting practices would maintain a level field for independent investors such as myself.
I request the commission to not grant foreign companies an exception to U.S. financial and reporting practices.
John C. Rader