McCreevy visits US with corporate governance and accountancy agenda

During his visit to New York and then Washington, from 19-22 April 2005, Mr McCreevy will aim to persuade US officials that a listing with the SEC should only be mandatory for EU companies with a significant US shareholding. At present EU companies must register with the SEC if they have more than 300 US shareholders and, once registered, must comply with corporate governance rules – highly expensive since the Sarbanes–Oxley Act. However, deregistration, EU companies have found, is very difficult. Corporate lobbyists want the threshold raised to 3,000 US shareholders.

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