Sarbox protections due in Queen’s Speech

0 Comments Published by claudia November 15th, 2006 in News, SOX, Europe Tags: , , .

Details of a plan to protect the UK from Sarbanes-Oxley are set to be unveiled this week in the Queen’s Speech on Wednesday.

The Clearing House and Banking Bill - which should be in force within a year - is designed to overcome fears that a London Stock Exchange takeover by a US exchange could allow stringent US regulation to be enforced in the UK, the Financial Times reported.

The bill, consisting of 12 clauses, is said to be politically non-contentious. Economic secretary Ed Balls said it was government’s ‘agreed and clear intention’ to get the legislation on to the statute books as quickly as possible.

Sarbox protections due in Queen’s Speech

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