Filed in archive SOX by leon on April 27, 2006

As expected, the battle to unwind Sarbanes-Oxley has gone into overdrive.

In his testimony to the House capital markets subcommitee, the chairman of the New York Stock Exchange Marshall Carter has warned that it might be forcing businesses away from US stock exchanges and has suggested a compromise solution: internal-controls audits every three years for companies that can prove they have sufficient controls.

Carter's claims are not new: speculation that Sarbanes-Oxley has been driving companies away from the US has been running hot .

Even the new Jupiter ecology Fund has chipped in with the claim from fund manager Charlie Thomas that it will stop green firms listing in the US.

Adding to the chorus is this report of Nasdaq vice president Edward Knight saying it will make the US less competitive.

Better get used to it. We can expect to hear more of this, and from the other side, over the next few weeks.

Related Entries:

Sarbanes-Oxley: time's running out? - 24 March 2006
Sarbanes-Oxley and Small Firms: GAO report - 09 May 2006
New probe to change Sarbanes-Oxley: the fix is in - 13 September 2006
Subprime's parallels with Enron and WorldCom: Michael Oxley ... - 15 March 2008

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Permalink: SOX in the firing line

Tags: Sarbanes Oxley

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With the SEC due to consider proposed changes that would exempt smaller companies from key provisions of Sarbanes-Oxley, calls are mounting for the regulator to act. The leadership of the New York Stock Exchange and Nasdaq have come out saying Sarbanes...