SOX Center

The European Union is satisfied with new U.S. rules making it easier for companies to delist from U.S. stock exchanges, European Internal Market Commissioner Charlie McCreevy said Friday. “The solution of the de-registration issue is a milestone” for transatlantic economic relations, McCreevy said. “This is very good news for our companies and economy.”
Under the SEC’s […]

The Asia Tigers Fund, Inc. (NYSE: GRR; the “Fund”) reports to stockholders that its Chief Executive Officer has submitted to the New York Stock Exchange his required annual certification for 2006 and that the Fund has included the certifications of its Chief Executive Officer and Chief Compliance Officer, as required by Section 302 of the […]

Bolstered by a series of delays granted by the SEC and highly publicized criticism of Sarbanes-Oxley legislation, many smaller companies are playing the waiting game with Section 404 compliance. With the deadline fast-approaching, smaller companies need to look beyond the hype and accept that SOX is not going away.
Rumors are circulating about the possibility of […]

Judge Dismisses Lawsuit Challenging Constitutionality of Accounting Oversight Board
A lobbyist for big business on Wednesday vowed to continue challenging the constitutionality of a 2002 anti-fraud law after a federal judge dismissed a lawsuit the group brought against the independent board Congress created to oversee the accounting industry.
The Free Enterprise Fund, which filed the suit in […]

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 […]

The European alternative to the Alternative Investment Market will be on a road show in London this week in search of new investors.
Alternext, which is owned by Euronext and hosts listings in four other European capitals, denied it will be trying to take business away from AIM.
However it will be targeting firms who wish to […]

South Korea’s Financial Supervisory Commission, or FSC, said Tuesday it has signed a pact with a U.S. accounting body for joint inspection and investigation of Korean accounting firms that audit local companies listed on the U.S. bourses.
The agreement with the Public Company Accounting Oversight Board, or PCAOB, was spurred by the Sarbanes-Oxley Act in the […]

Japan imposing new financial controls framework similar to Sarbanes-Oxley
Japanese companies and their international subsidiaries have started prepping for next year’s implementation of a corporate governance framework that’s comparable to the requirements imposed by the Sarbanes-Oxley Act in the U.S.
Many U.S.-based IT managers have started working on processes to ensure compliance with the emerging financial controls […]

The U.S. Chamber of Commerce has launched a new center dedicated to lobbying Congress to ease Sarbanes-Oxley requirements and “strengthen the competitiveness of U.S. capital markets.”
The Center for Capital Markets Competitiveness (CCMC) was announced last week during the Chamber’s Capital Market Summit.
The Chamber represents 3 million businesses and wants to see the rules relaxed, but […]

U.S. regulators expect a warm reception for changes the Securities and Exchange Commission will finalize next week making it easier for non-U.S. companies to exit U.S. securities markets.
The final rule on foreign deregistration “will make everyone happy,” SEC Corporation Finance Division Director John White said Friday in remarks to the American Bar Association.
Under the plan, […]