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(From Financial Director)
Byline: Sarah Perrin.
Could there be a silver lining hidden within the burden of Sarbanes-Oxley compliance? UK companies affected by it are looking hard to find an upside to the extra costs the US legislation has caused.
Foreign registrants - UK companies with a US listing and those registered with the Securities and Exchange Commission (SEC) - are all affected, alongside UK subsidiaries of US-listed companies. The big advantage for foreign registrants is that they have a little more time to comply (2005 rather than 2004).
Sarbanes-Oxley is having the most impact on UK companies in terms of the documentation ...