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SEC considers easing Sarbanes burden

WASHINGTON, DC -- The Securities and Exchange Commission (SEC) is "seriously considering" requests by European companies trading on the US markets to ease the burden of compliance with the Sarbanes-Oxley Act .

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In mid-December, 2004, the Confederation of British Industry (CBI), the UK’s international business lobby, met the SEC in Washington DC to seek compliance relief from the US authorities, and to avoid de-listing in US markets.

"We were concerned about the SEC rule that requires foreign firms with 300 or more American shareholders to register with the SEC, and the cost of Sarbanes-Oxley," says Rhian Chilcott, the CBI’s head of the Washington, DC office.

"At the moment, many European firms with

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