USTelecom Calls for Streamlined Foreign Ownership Rules
The FCC should minimize foreign ownership reporting burdens on regulatees without reportable foreign ownership, said USTelecom in a reply comment filing posted Wednesday in docket 25-166. “To the extent the Commission can streamline the certification process for entities with multiple licenses, such as allowing bulk submissions, it should do so.”
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In addition, the agency should set foreign ownership disclosure requirements that are reasonable for publicly traded companies, USTelecom said. “It may take a public company only 10 days to discover a new 10% or greater shareholder but many months for a new 5% shareholder.” The FCC should require publicly traded companies to “take reasonable steps to obtain the requisite information from interest holders within 30 days of the company learning about the interest holder,” USTelecom said. “By recognizing the unique position of publicly traded companies in obtaining shareholder information, the Commission can implement workable rules that strengthen our collective ability to secure our telecommunications infrastructure for the future.”