There are foreign companies out there like Electrolux, which has a long history of disclosure but thinks that Sarbanes-Oxley is ridiculous.
If Electrolux wants their securities to trade in the US, then they should comply with the rules that are applicable to public companies trading on US exchanges. It doesn't matter whether or not they agree with US Securities legislation; all that matters is that they comply or if they don't want to comply, then trade elsewhere. You can't suck & blow...if you want access to the capital markets in the US, then issue financial statements like everyone else. If you don't like the rules in the US, then go elsewhere. It's really that simple.
Were they not, only investors with access to the Stockholm exchange would be able to invest.
If that is where Electrolux file their f\s, then that is where people should invest in Electrolux after having the opportunity to review their financial statements & make an informed decision as to whether to invest in that company or not.
I can't believe anyone would advocate a company offering shares to the public without revealing financial information and continuing to do so on a regular basis.
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