The Securities and Exchange Commission has made some encouraging signals over its willingness to exempt foreign advisers from the Sarbanes-Oxley Act. UK lawyers should take the hint and respond with some practical suggestions, says Rick Mitchell
Legal Week reports
The US Sarbanes-Oxley Act continues to attract enormous attention in the US and Europe. In early November came political chaos following the resignations of chairman Harvey Pitt from the US Securities and Exchange Commission (SEC) and of former judge and FBI and CIA director William Webster from leadership of the new public accounting oversight board.
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