Monday, June 12, 2006
UK Firms Not Required to Comply with US Rules if NASDAQ Buys FTSE
The BBC is reporting that SEC regulators and Financial Services Agency regulators met recently to discuss whether the possible acquisition of FTSE by NASDAQ would require UK companies to comply with burdensome US laws and regulations, such as the Sarbanes-Oxley Act. As a result of the discussions, the regulators agreed that mere common ownership of the two exchanges will not require that UK companies comply with the US regulations. If, however, a UK company were listed on a US exchange, then US rules would apply.