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

Posted By claudia On 21st March 2007 @ 11:49 In News, SEC, SOX, Section 404, Europe, North America, Accounting rules | No Comments

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.

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

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URL to article: http://www.sox-center.com/2007/03/21/sec-to-allow-companies-to-withdraw-from-us-listings/

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[1] Bloomberg: SEC to Allow Companies to Withdraw From U.S. Listings: http://www.bloomberg.com/apps/news?pid=20601085&sid=atV39Zk9XzWs

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