US Equities Market News

World Equity News

Equities Org UK

Mortgages, insurance, and loans for the self-employed and students

Equities Org equities news has moved!

How to quickly sell your house

London equity markets make small gains

Eurofirst highest since May 2002

Eurofirst makes small gains as Xetra Dax down

Eurofirst slightly higher as elections approach

London strong on double witching hour

NYSE sees little movement on investor caution

European equities investors worried by elections

NYSE equities down on economic data

Nikkei down on post-election profit-taking

Nikkei down on post-election profit-taking

Economic concerns hit Eurofirst and Xetra Dax

Japanese elections boost Tokyo indices

Xetra Dax sees fall in Allianz

Utilities focus on FTSE

Dow Jones sees little movement

Analysts suggest Katrina will stimulate economy

Investors settled by Japanese polls

Banking and utilities see gains on Eurofirst

FTSE makes small gains on mergers

Investors consider construction boom after hurricane

Investors wait in Sunday's election

Eurofirst drops from 38-month highs

UK Equities down despite monetary policy decision

London FTSE makes only small gains

Investors consider Katrina economy impact

FTSE gains to three-year high


04/07/05

Permalink 08:32:04 am, Categories: Companies, 210 words  

Sarbanes-Oxley compliance blamed for Rank delisting

UK-based leisure group Rank, which owns the Hard Rock Café chain, announced that it will delist from Nasdaq and end its registration with the US Securities and Exchange Commission.

They will, however, continue to trade on the London Stock Exchange. In order to untangle itself from US exchanges, it will change its Articles of Association so that US investors will have to transfer their shares in its ordinary stock.

By taking these measures, Rank will no longer have to comply with either the Sarbanes-Oxley Act requirement to prove adequate supervision of accounting practices or with SEC reporting requirements.

The costs of complying with these requirements are the reason Rank gave for its decision to delist.

According to a study published in June by a law firm in Chicago showed that in the past year, the costs for a large company maintaining a public listing in the United States went up by 45 percent.

Most of that rise in cost, according to the study, comes from rising accounting fees. Audit fees increased by 55 percent for large companies in the past year, according to the study.

Small companies, defined as those companies with less than $1 billion in annual revenues, have seen their audit fees rise even more, up 96 percent in the past year.

Permalink

Categories

US Equities


Selling houses
We buy homes for cash, to sell your property fast.
Head girl badge
Head girl badge gift and other gift ideas.
Dect phones
Digitial dect phones at bargain prices
Pacific Rim childrens furniture
Great deals on natural bedroom furniture.
Portable garage Great deals on ceiling portable garages
Whirlpool bath
Discounted whirlpool bath & bathroom accessories


Syndicate this blog XML

 

US Equities copyright 2005 Central Consultants : All Rights Reserved