April 5, 2004
You Can Check In, But....
In yet another triumph for the Law of Unintended Consequences, a group of European companies, led by the Confederation of British Industry, is calling on the SEC to relax its "de-listing" requirements for US stock exchanges so that they can do so and escape the tender mercies of Sarbanes-Oxley.
According to this article, about 200 European companies are listed on the NYSE or the Nasdaq, either directly or through having acquired a U.S. firm, and as things stand the SEC requires firms to remain registered with it—even if they de-list from a U.S. exchange—so long as they have more than 300 U.S. shareholders.
Now I understand: We criticize the EU (rightly, IMHO) because rules making it extremely costly to fire a worker make it unattractive to hire new ones, leading to chronically high unemployment. And now we have created our own wonderful disincentive to listing and registration here, with its attendant benefits for U.S. investors.
Posted by Bruce at April 5, 2004 10:19 AM | TrackBackPosted to Globalization Printer-friendly version
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