These considerations include changes in exchange rates and exchange control
regulations, political and social instability, expropriation, imposition of foreign taxes, less liquid markets and less available information than is generally the case in the United States, higher transaction costs, foreign government restrictions, less government supervision of exchanges, brokers and issuers, greater risks associated with counterparties and settlement,
difficulty in enforcing contractual obligations, lack of uniform
accounting and auditing standards and greater price volatility.