State of Innovation

Patents and Innovation Economics

London Bankers Want to Thank Us for SOX

An article in WSJ blogs is more evidence that Sarbanes Oxley has driven the investment banking business overseas.  This has significantly hurt the financial capital to technology startups.  According to the article:

A statue in the City of London of the authors of the 2002 Sarbanes-Oxley U.S. regulatory legislation?

Such a monument is worthy of consideration, joked Lord Levene, chairman of Lloyd’s of London, at a World Economic Forum panel discussion. His point was that tighter accounting and other corporate regulations delivered by the so-called SarbOx law drove business to the U.K. from the U.S. and helped London thrive before the more recent credit crisis.

Please read the full article, A SarbOx Statue in the City of London?


January 27, 2010 - Posted by | -Economics, Innovation | , ,

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