SOX Center

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 […]

Risk management is still not delivering the value that it should, despite a wave of regulatory reforms such as Basel II and Sarbanes Oxley, a new study by PricewaterhouseCoopers in co-operation with the Economist Intelligence Unit has found.
The firm questioned more than 400 financial services executives and found that despite considerable investment, risk managers are […]

The City has thrown its support behind European Commission proposals to strengthen the regulation of auditing firms that sign-off the accounts of companies listed on European stock markets.
But Britain’s audit watchdog,the Financial Reporting Council, and the big accountancy firms remain concerned over how and when the new rules will be applied.
The directive gives national regulators […]

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 […]

Sarbanes-Oxley, the U.S. law designed to stamp out corporate fraud, is prompting more companies to keep secrets in the bond market.
Siemens AG, Australian retailer Woolworths Ltd., Miller Brewing Co. of Milwaukee and at least 100 other companies are selling bonds that aren’t registered with the Securities and Exchange Commission instead of debt that requires more […]

In response to Enron, WorldCom, Tyco, Peregrine and some of the biggest accounting firms playing a shell games with the corporate books, Congress enacted The Sarbanes-Oxley Act in 2002.
Today Siemens, based in Munich, Germany is being eyed for over 500 million dollars worth of bribes to public officials in Asia, Eastern Europe and Africa and […]

Converium announces a revision of the publication date of full year 2006 results to March 20, 2007. The date is two weeks ahead of the previous provisional date of publication. The publication date has been brought forward as a result of improved internal financial procedures and the Company’s good progress towards fulfilling its Sarbanes Oxley […]

The head of the New York Stock Exchange has launched a blistering attack on the lack of regulation surrounding the London Stock Exchange’s junior Aim market.
John Thain, chief executive of the NYSE, criticised the junior market for its lack of corporate governance standards. Mr Thain, speaking at the World Economic Forum in Davos, Switzerland, said […]

Clara Furse, chief executive of the London Stock Exchange, plans to keep Nasdaq at bay, and on Thursday, she put money on it.
Furse has said privately in recent weeks that she would prefer to keep the exchange from Nasdaq’s clutches, and then promote its liberty from U.S. regulators after its rival Euronext pairs up with […]