Compliance in the UK? Yes/No? 1588
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But there are many companies in the UK advertising, recruiting and demonstrating a SOX UK.
So, may I ask, as all these companies are not
a) US Public Companies, or
(b) Non-US Companies who have a US listing.
Why are companies asking for this? And, what is SOX UK?
oh yes - hello, this is my first post here
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We’re part of (b), however…
… the only other reasons I can think of except for your (a) and (b) are that they may want to be ahead of any decisions about US listing, or that they consider SOX as a valuable certification in the US marked.
Our main competitors are US companies that have to comply with SOX, so even if we weren’t listed in the US, we might have looked into SOX anyways, just to keep our competitors from getting an advantage in the marked ‘over there’.
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There is a lot of SOX work in the UK for sure, and I have worked on 5 SOX projects here. However these were:
(a) 3 subsidiaries of US companies
(b) 2 UK companies also listed on NYSE
At the moment there are several hundred UK companies listed in the US, and they tend to be the largest comapneis - therefore lots of work.
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Thanks for that chaps - that’s enlightened me a little further.
So, is there a quick and easy method, (reference point, website etc), where one could go to check out whether a company that has a SOX vacancy is either a:
(a) US Public Company? or
(b) Non-US Company who has a US listing? or
a subsidiary of a US company? or
(d) a UK company also listed on NYSE?
Just so when I’m checking out vacancies I can have some understanding of why the company is requesting a SOX certified/experienced person.
(Slightly off topic: This is a great forum, by the way. I looked all over the net for a good source of up-to-date SOX info and reference - and found a lot of useless out-of-date wannabe SOX websites etc etc. But this forum has provided me with a wealth of invaluable info. Congrats and thanks to all. )
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Should be apparent from the Annual Report and Accounts which most companies will make available on their websites - try the investor relations (or similiar) section if there is one.
Also you can check out the sec.gov website which allows access to all filings through EDGAR. Based on the filing a company makes you can tell if they’re US or not. Foreign filers complete a 20-F
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(d) a UK company also listed on NYSE?
Remember that NYSE is not the only one
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Remember that NYSE is not the only one - okay, I’ll bite - what are the other ones I should be checking for as well?
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Remember that NYSE is not the only one - okay, I’ll bite - what are the other ones I should be checking for as well?
Following stock exchanges apply: NYSE, AMEX, Nasdaq Stock Market (National Market System Small Cap Market) and Over-the-Counter Market.
A full and almost up-to-date list of all foreign companies registered - and therefore required to comply with SOA - at the SEC can be found at
http://www.sec.gov/divisions/corpfin/internatl/foreigngeographic2004.pdf
British companies are listed from page 27 on…
Peter
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Please note that there are no exemptions for FPIs that are also small companies.
this was proposed earlier in the year, but was not accepted at the Round table meetin last May.
Therefore, we all have to comply if SEC registered… regardless of size
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With the exception of private companies with public debt.
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With the exception of private companies with public debt.
Which would be a US regulated listing :roll: