Congressman Tom Feeney says Sarbanes-Oxley is driving capital out of the United States. Fearful of the heavy compliance burden, companies are fleeing U.S. markets in favor of markets in London, Shanghai, Hong Kong and Luxembourg. Calling himself an economic Paul Revere, Feeney is warning those who will listen that trouble lies ahead for U.S. markets — if it's not already here. And that trouble prompted him to introduce a bill that would exempt businesses whose capitalization is less than $700 million and whose revenue does not exceed $125 million from the corporate reform law's internal controls requirements.
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