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Sarbox hurting US stock exchanges

Sarbox hurting US stock exchanges

by Rick Turoczy on August 1, 2006

Writing in the FT, Neal Wolkoff, chairman and chief executive of the American Stock Exchange, said while he was not in favour of dismantling the Sarbanes-Oxley Act, he was “concerned about the effects of Sox on small businesses.”

“I see a growing trend of entrepreneurial companies deciding not to go public or listed companies opting to delist because of the high costs of complying with Section 404, which requires designing, documenting and auditing of financial controls,” Wolkoff said.

Sarbox hurting US stock exchanges

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