Quote:
Originally Posted by Sparrow
Also, as I understand it, UK companies that want to trade internationally are having to adopt Sarbanes-Oxley standards, which originated in the US and are more stringent than those in operation in the UK.
|
SOX is still a joke, and it allegedly caused some of the money to actually flee the US to London. That said, there was a reason why those financial institutions in the UK fled there: They got 0-10% tax rates. Because of the sheer amount of money they represented, and the threats they could issue through wielding that/parading it around, they could pretty much get everything they wanted from the UK govt. (Try watching Bremner, Bird & Fortune's
Silly Money)
Premise: Money only flees to places that are less regulated than the place where it's fleeing from.