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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 […]

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, […]

Finance chiefs think that the revised SEC and PCAOB standards won’t change anything because they cancel each other out.
Mismatches between the internal-controls proposals of the Securities and Exchange Commission and the Public Company Accounting Oversight Board will keep compliance with Section 404 of the Sarbanes-Oxley Act overly burdensome and costly, CFOs think.
In letters to the […]

Increasing market liberalization and the development of European Union and Asian capital markets are undermining New York’s position as the premier provider of global finance.
The relative weight and competitiveness of financial centers in the global economy is a major concern for national and local policymakers. In recent years, London, New York’s main competitor, has been […]

China’s top banking regulator said Thursday that U.S. market regulations, including the increasingly-criticized Sarbanes-Oxley act, are the “right and correct response to the market.”
Tightened U.S. securities regulations in the wake of high-profile corporate collapses such as Enron should not be reversed, to stem the tide of global companies looking elsewhere to list their shares, said […]

For the last few years, a number of American venture capitalists have been visiting China to study how to break into the markets of that emerging giant. But one has spent time there studying exits — not from China, but from his start-ups back in the United States.
Already, there are a small but growing number […]

Hong Kong surged past New York this year and became the world’s second most popular place _ after London _ for companies to float new stock listings.
The city’s amazing success was due to several factors, analysts say. Being next door to mainland China’s booming economy was a huge help. Tough new U.S. accounting rules have […]

Chinese companies are the NASDAQ’s biggest source of new listings and don’t appear to be discouraged by stricter legal requirements, the US exchange’s international president said.
Chinese companies now account for 29 of about 3,300 companies listed on NASDAQ, said the president of NASDAQ International, Charlotte Crosswell, in an interview in Shanghai on Wednesday.
The exchange also […]

South Korean firms listed on U.S. exchanges are facing growing costs due to stricter accounting rules and some of them consider leaving the markets, according to Financial Supervisory Service (FSS) yesterday.
Not only Korean but also many other non-U.S. firms saw costs to maintain their listing on the U.S. markets rise after the implementation of […]