The threat of foreign ownership has prompted the government to rush through Sarbox protection for the London Stock Exchange. Will it protect the UK from the onerous US legislation?
The threat of foreign ownership has promted the government to rush through
Sarbox protection legislation for the London Stock Exchange.
Last year, the volumes and values of European IPOs outstripped US activity
for the first time in four years – as companies moved to avoid the onerous
requirements of Sarbanes-Oxley.
And a senior director of US stock exchange Nasdaq has admitted that
Sarbanes-Oxley has damaged its ability to attract new listings. The exchange is
now frantically lobbying the US authorities to revise the regulatory rules.
So it’s little wonder the threat of possible US ownership of the LSE has
galvanised the UK government.
Will it protect the UK from the onerous US legislation?
Government rushes through Sarbox protection
for LSE
Legislation pushed through Parliament to protect London Stock Exchange from
possible Sarbox threat due to foreign ownership.
Sarbox protections due in Queen’s
Speech
Law to be rushed through parliament in an effort to prevent onerous US
regulations being imposed on UK companies.
LSE chief to call for Brown to remove duty
on share deals
Clara Furse to recommend that levies on equity transactions should be withdrawn,
which will lead to a growth in the economy
SEC allays concerns over ‘Sarbox ‘regulatory creep’
US regulator addresses a possible overlap of Sarbox policy in European exchanges
Laws blocking Sarbox from LSE on their
way
Economic secretary says laws ring-fencing UK regulatory regime are well
developed
Euronext installs Sarbox barricade
Stock exchange operator to put in a Dutch buffer body to prevent companies
listed on its exchanges being subjected to Sarbanes-Oxley rules
‘Sarbox hurting US stock exchanges’
American Stock Exchange chief criticises post-Enron rules
‘No Sarbox threat to UK plcs’
FSA reassures listed companies over Sarbanes-Oxley threat
Nasdaq lobbies for lighter touch to Sarbox
rules
Sarbanes-Oxley damages US stock exchange’s ability to attract new listings
Sarbox driving companies away from US listing
Stark warning from chairman of NYSE
IPOs head for Europe as Sarbox hits US
markets
Europe raises more new funds from initial public offerings than the US for the
first time in four years
Nasdaq bid raises Sarbox fears
Nasdaq’s bid for the London Stock Exchange has stimulated renewed speculation
about potential exchange mergers, as well as concerns about US regulatory creep
US ‘must not meddle’ with LSE-listed
companies
Brokers warn that the SEC must keep its investigatory hands off LSE-listed
companies if the exchange is bought by Nasdaq or NYSE
Sarbox boosts London Stock Exchange
flotations
LSE sees best month for flotations in four years, with Sarbox a probable cause
World’s major stock markets are consolidating
Consolidation among the major stock markets is accelerating rapidly. But what
does this mean for London and for businesses considering a listing?