As the City of London has taken New York’s crown as the world’s leading financial centre, some financiers have suggested a memorial be erected to honour the work of John Sarbanes and Michael Oxley. This is the duo who have inadvertently promoted London as a better place to do business than New York.

The impact of the US Sarbanes-Oxley Act on business regulation has had a significant impact on the international investment community. It has resulted in moves away from the US to less aggressively regulated jurisdictions and has highlighted the different regulatory approaches of the US and Europe.