As more companies list on foreign exchanges to escape the heavy regulatory hand of the 2002 Sarbanes-Oxley Act, the U.S. Securities and Exchange Commission is considering postponing some deadlines small and foreign companies face for establishing strict internal controls over their financial reporting.
Companies have complained that the rules, which require tough checks on audit procedures, are costly and burdensome. SEC Chairman Christopher Cox said in a statement last week that the delays would allow regulators to “redesign” internal controls rules to make them more efficient and cost-effective for investors.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
