The SEC has attempted to facilitate access by foreign companies to the U.S. public markets. The accommodations for foreign companies include allowing interim reports on the basis on home country regulation. While U.S. companies must file quarterly, interim reports by foreign companies must be filed as pursuant to the law of its domicile country (typically semiannual) using form 6-K. Another accommodation for foreign companies is to allow them a longer report lag. Foreign companies' annual reports on form 20-F must be filed within six months>>>>>>>>>>>>Foreign companies may trade their securities in the U.S. not only by registering on an exchange but also on the over-the-counter (OTC) Pink Sheets market. Over-the-counter securities can obtain section 12g3-2(b) exemption from 1934 Exchange Act registration and reporting requirements. As a result, these companies are not mandated to report in or reconcile to U.S. accounting standards. However, they must report to the SEC their primary statements, such as annual reports, circulars, or prospectus that are required in their domestic jurisdictions. Analysts who research these firms need to be conversant with foreign disclosure standardshttp://www.newaccountantusa.com/newsFeat/wealthManagement/foreign.pdf