Sarbanes-Oxley Act Expands Corporate Governance and Accounting Requirements for SEC-Registered Non-US Companies <em>(Updated)</em>

Sarbanes-Oxley Act Expands Corporate Governance and Accounting Requirements for SEC-Registered Non-US Companies (Updated)

On June 30, 2002 President Bush signed new legislation that introduced the Sarbanes-Oxley Act of 2002, which reflect a Congressional response to the series of highly publicized business scandals, earnings restatements, pension losses and bankruptcies that were in the headlines. The Act has important liability and other implications to all US and non-US issuers that have registered securities under Section 12 of the Securities and Exchange Act of 1934 or that are required to file periodic reports with the SEC pursuant to Section 15(d) of the Exchange Act.

The Act's implications are  comprehensive and far reaching. Significantly, it extends a number of US corporate governance and accounting requirements to foreign private issuers with securities registered under US  federal securities laws. 

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