SOX is the reason why pretty much everyone avoids going public in the US anymore. Many international companies that would have previously floated in NY now do s

SOX is the reason why pretty much everyone avoids going public in the US anymore. Many international companies that would have previously floated in NY now do so in London (which has now overtaken NY as the largest foreign equity market). The cost (typically in the couple of millions for a small company) is simply too high.