Sarbox protections due in Queen’s Speech

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

Details of a plan to protect the UK from Sarbanes-Oxley
are set to be unveiled this week in the Queen’s Speech on Wednesday.

The Clearing House and Banking Bill – which should be in force within a year
– is designed to overcome fears that a London Stock
Exchange
takeover by a US exchange could allow stringent US regulation to be
enforced in the UK, the Financial Times reported.

The bill, consisting of 12 clauses, is said to be politically
non-contentious.
Economic secretary Ed Balls said it was government’s
‘agreed and clear intention’ to get the legislation on to the statute books as
quickly as possible.

Further reading:

Laws blocking Sarbox from LSE on their way

Watchdog says LSE safe

Ed Balls wants to keep AIM’s light touch

Related Articles

Lease accounting standards: are multinationals sitting on a ‘leaseberg’ of huge proportions?

Accounting Standards Lease accounting standards: are multinationals sitting on a ‘leaseberg’ of huge proportions?

2m Ross Chapman, Aptitude Software
Demystifying GDPR for accountants

Accounting Standards Demystifying GDPR for accountants

7m Ellen Temperton, Lewis Silkin
EY fined £1.8m over Tech Data audit

Accounting Standards EY fined £1.8m over Tech Data audit

9m Emma Smith, Managing Editor
The great professional services shake-up

Accounting Standards The great professional services shake-up

10m Fergus Payne, Lewis Silkin
What do clients actually want from an accountant?

Accounting Standards What do clients actually want from an accountant?

11m Emma Smith, Managing Editor
Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

Accounting Standards Accountants shouldn’t neglect hybrid mismatch anti-avoidance rules

12m Alison Conley
Membership of the accountancy profession on the rise

Accounting Standards Membership of the accountancy profession on the rise

1y Alia Shoaib, Reporter
The real price of mates' rates in the provision of professional services

Accounting Standards The real price of mates' rates in the provision of professional services

1y DAC Beachcroft