Thursday, December 16, 2004

NevOn: Delisting in the US because of Sarbanes-Oxley

The costs of compliance with the Sarbanes-Oxley Act are leading some international companies to delist in the US, with others not bothering to apply for stock market listing.

A report yesterday in Business Week Online said that the tough corporate-reporting regulations passed in the US in 2002 after the wave of financial scandals have many American companies scrambling to comply with the new requirements. But in Europe, they're provoking a slightly different reaction.

Financial-management consultancy Parson Consulting estimates that complying with Sarbanes-Oxley would cost the 70 British-headquartered businesses included in their survey a total of $860 million. Another survey of corporate board members conducted by executive-search firm Korn/Ferry International estimates that complying would cost the US companies surveyed an average of $5.1 million.

NevOn: Delisting in the US because of Sarbanes-Oxley

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