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SEC to tell Chinese firms to accept US audits or be delisted
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Posttime:2020-11-26
THE US Securities and Exchange Commission (SEC) proposed to require US-listed Chinese companies to use auditors overseen by the US or face delisting, reports the Wall Street Journal.
The SEC plan is expected to be open to public comment. The regulation is part of a concerted US effort to get tough on China.
The new regulation would force Chinese companies that have shares traded on American stock exchanges such as the New York Stock Exchange and Nasdaq to comply with auditing regulations as other listed companies do.
source:Schednet
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