US Treasury targets IPO haemorrhage
Washington D.C. - The US Treasury has unveiled its action plan for increasing the competitiveness of US capital markets, in the hopes of retaining the nation’s pre-eminence in global finance.
In a widely expected move, Treasury secretary Hank Paulson rejected the notion that cumbersome regulation such as Sarbanes-Oxley (Sox) is to blame for the erosion in initial public offerings (IPO) on US markets, and instead lauded tough rules aimed at boosting investor confidence as the cornerstone of US
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