Resources for Sarbanes-Oxley (SOX)

Barclays chief warns against regulatory response to credit crisis

www.citywire.co.uk

Over-zealous regulators in the wake of the credit crunch risk spawning another Sarbanes-Oxley act, warned John Varley, group chief executive of Barclays. The US Congress enacted the Sarbanes-Oxley (or Sarbox) law in 2002 after a series of coporate and accounting scandals including those at Enron, Tyco International and WorldCom cost investors billions of dollars. But businesses decried the measures as onerous and said the law is responsible for driving listings from New York to London where regulation is lighter and 'principles-based'.

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