POLITICS_ White House Seeks Crackdown on U.S.-Listed Chinese Firms

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White House Seeks Crackdown on U.S.-Listed Chinese Firms

Proposal would have companies lose their listings if they don’t comply with U.S. auditing requirement

By Dave Michaels
Updated Aug. 6, 2020 8:06 pm ET

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WASHINGTON—Chinese companies with shares traded on U.S. stock exchanges would be forced to give up their listings unless they comply with U.S. audit requirements under a plan recommended Thursday by the Trump administration.

The proposal addresses a long-simmering dispute over U.S. regulators’ inability to inspect the financial audits of Chinese companies that sell shares in U.S. markets. It follows bipartisan legislation that passed the Senate in May, which would give Chinese companies that don’t comply three years to delist...

READ MORE: https://www.wsj.com/articles/trump-administration-seeks-crackdown-on-chinese-companies-with-shares-traded-in-u-s-11596748284?mod=hp_lead_pos1

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