European companies push Sarbanes-Oxley campaign

European companies have stepped up a campaign against the strictures of American corporate governance legislation, sending a forthright letter calling on US regulators to make it easier for foreign groups to escape the rules.


The letter, sent to the Securities and Exchange Commission last week by eleven European employers' federations, offered concrete suggestions for loosening the share ownership tests that determine whether companies can deregister from the SEC and avoid the provisions of the Sarbanes-Oxley Act.

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