Euronext CEO insists Sarbox will "never" apply

Euronext's planned merger with the New York Stock Exchange has hit a few speed bumps, one of which is lingering concerns over Sarbanes Oxley. Euronext CEO Jean-Francois Theodore has insisted several times that the law will "never" apply to European issuers. As an added layer of assurance to nervous customers, Euronext says it will set up a Dutch foundation with an independent board that will decide on any regulatory changes. While I would never say never, it does seem unlikely that Sarbox would apply. Certainly, the NYSE would resist such a move. One reason all exchanges are diversifying geographically is to move into areas where the law is not a hindrance to underwriting activity.

For more on Euronext:
- Here's an update from AFX via Forbes
- One survey has found that European companies are reporting faster, catching up to U.S. companies. Article
- Euronext's profits soar. Article