The head of the New York Stock Exchange has indicated confidence that UK and European companies are less likely to flee their current listings on US markets if the EU pushes ahead with the introduction of more onerous financial regulation.
Link: Donaldson to extend 404 aid
John Thain, chief executive of NYSE, made the comments to delegates at the World Economic Forum in Davos.
There has been constant speculation that both UK and European companies would delist in the US because of the huge cost of complying with regulation introduced as part of the Sarbanes Oxley Act.
Thain, reported in the Financial Times, believes a new wave of European legisaltion would make delisting less likley because the EU would be moving closer to US practice.
Yesterday Accountancy Age reported that SEC chief William Donalson is considering delaying for foreign resistrants the introduction of the notorious section 404 of the Sarbanes Oxley Act.
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