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
Guarantees must be made that the London Stock Exchange will not find itself
under the auspices of the Securities and Exchange Commission if the market is
bought by Nasdaq or the New York Stock Exchange, according to brokers.
Angela Knight, chief executive of private client broker Apcims, said the SEC
must avoid investigating the affairs of UK businesses listed on the LSE if the
exchange is acquired by a US equivalent, reported the Daily Telegraph.
She is concerned with the difference in US and UK accounting standards, plus
the onerous affect on US business of Sarbanes-Oxley legislation.
However, FSA chief executive John Tiner recently suggested that the SEC would
not get involved in UK companies listed on the LSE, if the exchange was
acquired.