SOX

Yesterday. I read that SOX led to a flurry of listings on non-US stock exchange markets: due to increased regulatory pressure from SEC, only three major companies went public in the US in 2005. Most preferred either Asian or European (mostly LSE) bourses.

Today. Another blow in the face of proponents of hyper regulation:

"not only are [SOX] reporting requirements onerous, there is also a danger that senior executives, boards and investors will be lulled into believing that the major vulnerabilities confronting a company are "under control"

. Talk about moral haphazard!