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SEC to Allow Companies to Withdraw From U.S. Listings

Published by claudia March 21st, 2007 in News, SEC, SOX, Section 404, Europe, North America, Accounting rules Tags: , , , , , , .

The Securities and Exchange Commission will make it easier for foreign companies to delist from U.S. stock exchanges and withdraw from SEC oversight, including the requirements of the Sarbanes-Oxley law.

A new SEC regulation, approved today, will allow companies to deregister their shares if U.S. trading is 5 percent or less of the firm’s daily volume worldwide. The rules will take effect before a June deadline for complying with Sarbanes-Oxley’s audit requirements, regulators said.

Bloomberg: SEC to Allow Companies to Withdraw From U.S. Listings

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