The Institutional Shareholder Service (ISS) Corporate Governance Blog has a September 7, 2006 post entitled “Has SOX Led to Fewer Lawsuits?” (here) that raises the question whether the declining number of securities lawsuits in 2006 (here) is due to improved corporate governance because of the Sarbanes-Oxley Act. While the CG
SOX (Generally)
SOX Consequences: Another Look?
In a prior post (here), The D & O Diary fretted that Sarbanes-Oxley compliance costs could be driving foreign companies away from U.S. exchanges or encouraging existing public companies to delist their shares. An August 21, 2006 op-ed piece in the Wall Street Journal written by Maurice Greenberg and entitled “Regulation, Yes. Strangulation,…
SOX Consequences: London Is Calling and Companies Are “Going Dark”
As detailed in this prior D & O Diary post, the Sarbanes-Oxley Act has imposed enormous compliance burdens and expense on companies whose shares are traded on the U.S. securities exchanges. It is hardly surprising that, according to an August 8, 2006 Wall Street Journal article (subscription required), U.S. exchanges have lost ground in…
Notes from Around the Web
Numbers Pressure: In an article in its May 2006 issue, CFO Magazine reports the results of a survey of finance executives. Among other things, the survey participants were asked:
Do you ever feel pressure from your superiors to use aggressive accounting techniques to make results appear more favorable?
11 percent of public company participants and…