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Senior US official hints at relaxation of Sarbanes-Oxley

Senior US official hints at relaxation of Sarbanes-Oxley

by Rick Turoczy on April 28, 2006

In an interview with the Reuters news agency the new US ambassador to the EU, C Boyden Gray, said: “My sense is that Sarbanes-Oxley could use some review in the United States.”

Officials from the New York Stock Exchange said this week it was losing new listings in part due to the increased regulation.

Mr Gray said: “My gut instinct tells me … that this has in a perverse way benefited London.

“There may be more IPOs [initial public offerings] listed now in London than there would have been. Some of the exchange activity may be a reflection of that. Certainly deregistration is.”

The comments of the new ambassador, who was a Washington lawyer and Republican activist, reflect growing concern in the US about the impact of Sarbanes-Oxley on business.

Senior US official hints at relaxation of Sarbanes-Oxley

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