Rimon Partner Andrew Reilly Featured in Lawyers Weekly on SEC Exemption for ASX-Listed Companies

Rimon Partner Andrew Reilly was recently featured in Lawyers Weekly following a significant U.S. Securities and Exchange Commission (SEC) exemption that reduces duplicate reporting requirements for directors and officers of certain Australian Securities Exchange (ASX)-listed companies that are also listed in the United States.

The exemption recognizes that Australia’s existing disclosure framework imposes substantially similar reporting obligations to those required under Section 16(a) of the U.S. Exchange Act. As a result, directors of qualifying dual-listed companies will face a reduced compliance burden while maintaining transparency for investors.

Reilly advocated for the exemption in communications with the SEC, arguing that ASX reporting requirements provide comparable protections and disclosure obligations. The SEC’s decision reflects a growing willingness to recognize equivalent regulatory frameworks across jurisdictions and represents a positive development for Australian companies accessing U.S. capital markets.

In his comments to Lawyers Weekly, Reilly noted that the outcome demonstrates that Australian legal and business stakeholders can play a meaningful role in shaping international regulatory developments. He also expressed optimism that the exemption could serve as a foundation for broader mutual recognition efforts between Australia and the United States.

The development comes as increasing numbers of Australian companies, particularly those with U.S.-based critical minerals projects, explore opportunities to access U.S. investors and public markets.

Read the full article here.