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EVENT:
The Securities and Exchange Commission (SEC) on August 9 granted smaller companies and many foreign private issuers extra time to comply with the Sarbanes-Oxley Act's internal control reporting and auditing provisions.
SIGNIFICANCE:
Many companies have opted to launch initial public offerings in London rather than New York, partly in response to perceived onerous US securities regulatory burdens. The SEC's latest limited changes are unlikely to alter that trend, and will not forestall pressure from companies and Congress to enact further comprehensive reform.
Word Count (approx): 1265
Headings
- Global impact
- Foreign firms' objections
- US loses listings
- Presently listed firms
- IPO losses
- European gains
- European advantages
- US cost disadvantage
- US regulatory reaction
- Outlook
Primary Keywords: NA, United States, industry, corporate, equities, finance, regulation
Secondary Keywords: EU, Russia, United Kingdom, economy, politics, consumer, energy, government, oil
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