SOX Center

Since the passage of the Public Company Account­ing Reform and Investor Protection Act of 2002 (the Sarbanes–Oxley Act), small and mid-sized public companies have struggled to comply with its onerous provisions, which created an enormous and dispro­portionate regulatory burden. Most of these costs can be attributed to Section 404, a small section of only 168 […]

FEI announced the results of its sixth Sarbanes-Oxley compliance survey, which found that Section 404 compliance cost Corporate America less in year three of adoption than in each of the first two years. FEI polled 200 companies to gauge experiences in complying with Section 404. Responding companies have average revenues of $6.8 billion.
According to […]

Several of the North Bay’s publicly traded companies will soon have to comply for the first time with the stringent accounting requirements of the federal Sarbanes-Oxley Act.
The Securities and Exchange Commission is still revising those requirements, and the companies face the dilemma of whether to prepare now using the current requirements or wait for the […]

Spirent Communications is dropping its New York listing because of the high costs of meeting the Sarbanes Oxley regulations on corporate governance.
The communications technology company said in a statement: “The US listing has become significantly more costly and onerous in recent years, not least due to the imposition of the Sarbanes Oxley regulations.”
The New York […]

The US Senate’s thumping defeat of an amendment to exempt certain small and medium-sized businesses (SMBs) from compliance with Section 404 of the Sarbanes-Oxley Act is bad for business US poiticians have declared.
SMBs fell foul of political battles by those decrying the amendment as an attack on shareholder protections and others countering that SOX is […]

Amcor Limited announced today that it intends to voluntarily withdraw its American Depositary Receipts (ADRs) from listing on The NASDAQ Stock Market LLC and to deregister its ADRs and its ordinary shares under the U.S. Securities Exchange Act after the recently adopted deregistration rules of the U.S. Securities and Exchange Commission (SEC) become effective on […]

The new world of corporate governance, in the view of Securities and Exchange Commissioner Roel Campos, is one in which Sarbanes-Oxley rules governing companies become more commonplace and affordable as shareholders continue to demand and receive more say over how companies are run.
“It’s what I see,” Campos said of the democratization trend with shareholders in […]

Former Senator Paul Sarbanes, D-Md., who, as the head of the Senate Banking Committee, co-authored the sweeping Sarbanes-Oxley reform act said he supports developing additional guidance for smaller filers but, not surprisingly, dismisses exempting those companies from compliance with the legislation’s rigid Section 404.
“Stop and think about that for a moment,” said Sarbanes in a […]

Increased regulatory pressures and the fear of sanctions for failure to comply are making FTSE-350 FDs reluctant to relinquish control over sensitive finance and accounting functions
The burden of handling regulatory and compliance issues has become a major obstacle to outsourcing finance and accounting business functions, according to research among UK finance directors.
The survey of 50 […]

Telekom Austria, Vernalis Plan to Delist From U.S. Exchanges
European companies are already signaling their intent to take advantage of a pending change in rules that will let them easily cancel U.S. stock listings and escape the regulatory constraints of the Securities and Exchange Commission and the Sarbanes-Oxley Act.
Telekom Austria AG and Vernalis PLC, a […]