Well that was good timing. Looks like there may be some discussion about revamping Sarbanes-Oxley after all. Former Fed chairman Greenspan was quoted today's FT:
Alan Greenspan, former chairman of the US Federal Reserve, predicted yesterday the US would make "changes" to the burdensome financial and corporate governance requirements driving companies out of US markets.
Mr Greenspan initially supported the passage of the Sarbanes-Oxley law - the landmark 2002 legislation introduced after the Enron and WorldCom scandals - but said yesterday he was "disturbed" when companies started favouring London over New York for their flotations.
"The Sarbanes-Oxley Act has created significant problems for foreign investors with its regulatory structure," he said at a question and answer session at the Asian Financial Centres conference in Seoul, organised by the Financial Times. "I am nevertheless acutely aware and disturbed by the fact that initial public offerings have moved away from the US - and to a large extent have moved to London."
Thanks to Jeff Nolan for highlighting his comments.