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UK to block Sarbox threat with legislation

UK to block Sarbox threat with legislation

by Rick Turoczy on September 14, 2006

Clara Furse, the London Stock Exchange’s chief executive, will be breathing a huge sigh of relief today after the economic secretary Ed Balls said the Treasury was going to strengthen the Financial Service’s Authority’s powers in order to protect the light regulatory regime of the London Markets.

In a speech to the Hong Kong General Chamber of Commerce and the British Chamber of Commerce in Hong Kong, Balls said that the government would introduce legislation that will allow the FSA to veto any regulatory rule changes proposed by any foreign buyers of the LSE.

UK to block Sarbox threat with legislation

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