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Sarbanes-Oxley blamed for capital flight

Sarbanes-Oxley blamed for capital flight

by Rick Turoczy on July 31, 2006

The Sarbanes-Oxley corporate accounting law is driving companies away from the United States, a congressman is warning.

U.S. Rep. Tom Feeney, R-Fla., says the law, passed in the wake of the WorldCom and Enron scandals, has led to an ‘outsourcing of America`s 100-year lead in capital formation,’ the Financial Times reported Monday.

U.S. bankers, particularly, are noticing that foreign companies that would once have listed on U.S. stock exchanges are choosing London and Hong Kong, instead.

Sarbanes-Oxley blamed for capital flight

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