The US Securities and Exchange Commission has moved to address the loss of
company listings in the country by attempting to ease the burden of Sarbox on
The SEC is proposing that international companies listing in the US should be
exempted from the onerous rules for a period of one year.
The proposal is part of a package of measures aimed at easing the burden of
Sarbanes-Oxley Section 404 for foreign and smaller businesses, the FT
‘Our goal here is to make it easier for foreign issuers to do IPOs in the
US,’ said John White, director of the SEC’s division of corporation finance.
‘They will still ultimately have to comply but won’t have to worry about Section
404 compliance as they worry about their IPO.’
Further powers are being sought by HMRC, but it is ‘failing’ to use those it already has, such as Conduct Notices, says RPC
HMRC breaches client confidentiality; and partner profits fall at EY. These stories and more discussed in Friday Afternoon Live
Does Darwin's theory apply to taxation? Colin ponders...
"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges