EGC Corporate Governance Practices (May 2018)

EGC Corporate Governance Practices: A Survey and Related Resources PAGE 7 Figure 9 : N=81. Figure 10 : N=49.* * Two companies’ securities were listed on two foreign exchanges. The U.S. securities laws permit FPIs to choose to follow U.S. or their own home country governance principles for most matters, although there are specific U.S. requirements relating to audit committees that all FPIs must satisfy. Among other exemptions available to FPIs, FPIs do not have to comply with U.S. proxy rules or ownership reporting pursuant to Sections 14 and 16, respectively, of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). Of the 200 FPI EGCs that completed IPOs during the period, approximately 95.0% chose to follow home country governance principles. Cayman Islands; 42 All Others; 39 ADR Issuers (By Country of Incorporation) Cayman Islands All Others 0 2 4 6 8 10 FPI Dual-Listing by Exchange (By Frequency)