Does my employer have to comply with SOX? 1201

  • I work for a manufacturing firm that has an international presence (plants in the US, South Korea and China), and our corporate attorney told the US office where I work that we did not have to comply with any of the SOX act components because we are HQ’ed out of South Korea. Is that correct? Seems odd to me that just because we are owned by a South Korean based firm and we are only traded on the Korean stock market that our large operation in the US does not have to comply with any of the SOX act. Is this correct?

  • That is probably correct. If the company does not have stock or debt that is publicly-traded in the USA, then it is not subject to the US SOX laws.

  • Thank you

Log in to reply