Monday, February 27, 2006
New calls on SEC to relax rules
A coalition of European business associations is preparing to tell the US market regulator that it has not gone far enough with proposals to make it easier to "deregister" from the SEC and thus avoid US reporting requirements.
Deregistration rules came to prominence after the Sarbanes-Oxley Act imposed new compliance costs on companies and led some to reconsider the merits of trading on US exchanges.
A requirement for foreign companies to refile financial statements under US accounting standards has also reduced the attractiveness of US markets. But a new push to harmonise accounting standards announced today is likely to help bring that to an end.
posted by Brian Moran @ 11:41 AM