RegulationAccounting StandardsNYSE Euronext CEO urges rationalised Sarbox

NYSE Euronext CEO urges rationalised Sarbox

NYSE Euronext chief has urged rethinking on the Sarbanes-Oxley law because of its ‘onerous rules’

Companies may already be dissuaded from listing in the US because of onerous
rules and a litigious environment, Duncan Niederauer,
NYSE Euronext chief
executive, told delegates yesterday at a National Press Club event in
Washington.

He said the Sarbanes-Oxley law needed to be ‘rationalised’, particularly for
small and medium-size enterprises as US faced increasing competition for
companies wanting to list from places such as London and Hong Kong, according to
Reuters.

‘When a place like London shows up and says we are reputable, sure the US is
too, but we are not going to put you through nearly what they are going to put
you through to go public over there, I think you see a lot of companies voting
with their feet right now and I think it’s disappointing,’ Niederauer said.

Regulators are said to have already taken steps to help cut costs to comply
with the Sarbanes-Oxley corporate reform law, which has been blamed for driving
business away from the US.

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