Alan Greenspan, former chairman of the US Federal Reserve, predicted on Wednesday the US would make “changes” to the burdensome financial and corporate governance requirements driving companies out of US markets.

Mr Greenspan initially supported the passage of the Sarbanes-Oxley law – the landmark 2002 legislation introduced after the Enron and WorldCom scandals – but said on Wednesday he was “disturbed” when companies started favouring London over New York for their flotations.