Friday, September 15, 2006
SOX in the U.K.? No Way!
Inside Sarbanes-Oxley has a posting about a move in the U.K. to assure that SOX does not apply in the U.K. The article cited explains that the economic secretary to the Treasury in the U.K. has proposed to give the Financial Services Authority the ability to reject rule revisions by U.K. exchanges. This would assure the U.K. regulators can prevent any attempt by a U.S. joint owner of a U.K. exchange to export SOX to the U.K. through exchange listing rules. Those commenting in the article noted that the acquisition of an ownership interest by U.S. exchanges is targeted at expanding their business rather than exporting SOX.