Christopher Cox, chairman of the Securities and Exchange Commission, yesterday issued a robust defence of Sarbanes-Oxley legislation, saying it was "important to keep in mind" that many of its elements had been adopted by other regulators overseas.
"I would like to highlight a little noticed fact - while competitors in other countries are using Sarbanes-Oxley as a reason for foreign companies to list in their jurisdictions, many of those same countries are adopting provisions of the act as part of their own regulatory regime," he said told US lawmakers.
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