SEC, put pressure on Chinese companies on Wall Street. Delisting risk for 200 companies

(Teleborsa) – The Securities and Exchange Commission (SEC), the US body responsible for supervising the stock exchange, is ramping up its business Transparency requests towards Chinese companies listed on Wall Street, with pressure that could lead to their delisting from the New York Stock Exchange and Nasdaq. In particular, the Securities and Exchange Commission has adopted some amendments to finalize the rules that implement the filing and disclosure requirements of the Foreign Company Accountability Act (HFCAA). Basically, these are the rules that foreign companies are required to advertise Open their books to American control. China and Hong Kong are the only two jurisdictions that refuse to allow inspections despite Washington’s demand to do so since 2002.

“If you want to issue shares in the US, the companies that control your books must be inspected by the Public Company Accounting Oversight Board (PCAOB) – he said SEC President Gary Gensler This final rule reinforces the mandate set by Congress and goes to the heart of the SEC’s mission to protect investors. “The Commission and PCAOB will continue to work together to ensure that auditors of foreign companies that access the capital markets Americans respect our rules,” he added. We hope that foreign governments will take measures to make this possibleThe new rules begin a process that could lead to the write-off of more than 200 companies from Wall Street.