A few weeks back I gazed into my crystal ball and predicted that Sarbanes Oxley would soon be rearing its head in the supply chains of many high profile companies who had, to date, escaped its advances.

Now it seems the NYSE is the latest loser as companies are running to the hills to avoid the cost of compliance.

Natural gas giant, BG Group, who were formed in 1997 when British Gas took over Centrica, announced yesterday they were to become the fourth UK blue chip to de-list from the NYSE since January, citing the financial demands placed on it by Sarbox as the major reason for their defection.

BG, who will still trade on the London Stock Exchange, are following the likes of British Airways, ICI and United Utilities down what is fast becoming a well-trodden path.

“It no longer makes sense from a cost and administrative perspective to maintain our SEC (Securities and Exchange Commission) registration and NYSE listing,” the company’s chief financial officer, Ashley Almanza, told reporters.

Hardly surprising given that the move will save BG Group more than £4m a year.

How much longer it will be before another major UK or European company follows their lead is unclear, but one thing seems certain – they won’t be the last.