• Latest
  • Trending
  • All
  • Market Updates
  • Cryptocurrency
  • Blockchain
  • Investing
  • Commodities
  • Personal Finance
  • Technology
  • Business
  • Real Estate
  • Finance
Top US state Republicans urge SEC to consider delisting Chinese companies

Top US state Republicans urge SEC to consider delisting Chinese companies

May 20, 2025
Tokenised money market funds: pseudo-money

Tokenised money market funds: pseudo-money

July 10, 2025
selling new shares to pay dividends

selling new shares to pay dividends

July 10, 2025
OPEC slashes global oil demand forecasts for the coming years in latest outlook report

OPEC slashes global oil demand forecasts for the coming years in latest outlook report

July 10, 2025
Bitcoin Soared—But Mainstream News Was Missing In Action, Study Reveals

Bitcoin Soared—But Mainstream News Was Missing In Action, Study Reveals

July 10, 2025
Watch: Google DeepMind CEO and AI Nobel winner Demis Hassabis on CBS’ ’60 Minutes’

Open vs. closed models: AI leaders from GM, Zoom and IBM weigh trade-offs for enterprise use

July 10, 2025
DHS corrects data error: International student enrollment rises

DHS corrects data error: International student enrollment rises

July 10, 2025
15 Easiest Items To Sell That You Already Own for Quick Cash

15 Easiest Items To Sell That You Already Own for Quick Cash

July 10, 2025
Trump threatens to impose 50% tariff on Brazil

Trump threatens to impose 50% tariff on Brazil

July 10, 2025

EU is “working non-stop” to strike an agreement with the US – von der Leyen

July 10, 2025
Ripple CEO Predicts $2 Trillion Stablecoin Market Growth

Ripple CEO Predicts $2 Trillion Stablecoin Market Growth

July 10, 2025
Perplexity just launched an AI web browser

Perplexity just launched an AI web browser

July 10, 2025
Stocks making the biggest moves midday: AES, NVDA, BE, VRNA

Stocks making the biggest moves midday: AES, NVDA, BE, VRNA

July 10, 2025
Thursday, July 10, 2025
No Result
View All Result
InvestorNewsToday.com
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech
InvestorNewsToday.com
No Result
View All Result
Home Market Updates

Top US state Republicans urge SEC to consider delisting Chinese companies

by Investor News Today
May 20, 2025
in Market Updates
0
Top US state Republicans urge SEC to consider delisting Chinese companies
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter


Unlock the White Home Watch publication at no cost

Your information to what Trump’s second time period means for Washington, enterprise and the world

High Republican monetary officers from 21 states have urged the Securities and Change Fee to find out if Chinese language corporations on US inventory exchanges must be delisted for failing to guard American buyers.

The officers on Tuesday requested SEC chair Paul Atkins to analyze the businesses due to Chinese language insurance policies that “create an surroundings of opaqueness that’s antithetical” to the reporting necessities of US legal guidelines.

“China’s actions create an surroundings ripe for fraud and abuse, growing the chance that China-based US-listed corporations will violate the disclosure, auditing or anti-fraud provisions of the Securities Change Act,” the officers from states together with Pennsylvania, South Carolina and Arizona stated within the letter obtained by the Monetary Occasions.

The letter marks the most recent transfer within the US by teams and lawmakers who argue that American cash shouldn’t be used to assist Chinese language corporations, significantly any with hyperlinks to the Chinese language army.

The officers stated the SEC had the authority to delist companies that didn’t adjust to the Securities Change Act or relied on auditors in nations the place the US Public Firm Accounting Oversight Board couldn’t perform efficient inspections. 

They famous, for instance, that the Chinese language Communist occasion had cracked down on the power of overseas companies to conduct due diligence on Chinese language corporations and allowed using opaque buildings referred to as variable curiosity entity preparations to assist “circumvent US regulatory scrutiny”.

The officers stated these issues, coupled with the PCAOB having discovered “pervasive deficiencies” in inspections of Chinese language auditors, “necessitate a detailed examination of whether or not China-based corporations must be listed on US exchanges”.

The letter comes two weeks after two senior Republican lawmakers urged the SEC to delist Chinese companies, including Alibaba, that they stated had army hyperlinks that harm US safety.

John Moolenaar, chair of the Home China committee, and Rick Scott, chair of the Senate ageing committee, urged Atkins to take motion. Moolenaar informed the FT on Monday that he had since spoken to the SEC chair concerning the situation.

“We had a productive dialogue concerning the pressing want to handle the dangers posed by CCP-linked corporations in our capital markets,” he stated. “I look ahead to persevering with these conversations and dealing collectively to strengthen enforcement, shield American buyers and guarantee our markets usually are not used to fund the Chinese language Communist occasion’s army and surveillance ambitions.”

OJ Oleka, chief govt of the State Monetary Officers Basis, stated his members despatched the letter now as a result of President Donald Trump was “a president who’s keen to be powerful on China and the CCP and put America first”.

“It takes heavy suspension of disbelief to simply accept that China-based corporations are doing their finest to conform and be absolutely clear with American regulators,” Oleka added.

Atkins on Tuesday informed the FT he had not but learn the monetary officers’ letter and declined to touch upon whether or not he was open to trying into potential grounds to delist Chinese language corporations.

He stated the SEC was engaged on a response to the Moolenaar and Scott letter, including it will use its “authority the place acceptable”, in accordance with federal statutes. The company would “be positively taking note of it so it’s not slipping by the cracks”.

Requested on Monday concerning the Moolenaar and Scott letter, Atkins informed reporters the SEC was “nonetheless digging in” and “making an attempt to determine about this situation”, noting it was his twentieth day within the job.

The letter from the monetary officers will improve stress on Atkins to announce coverage measures centered on China. His predecessor, Gary Gensler, raised scrutiny of Beijing’s involvement within the US securities market and pushed for inspections of auditors of Chinese language teams listed within the US.

Advisable

Chinese leader Xi Jinping visits a ballbearing factory in Luoyang, China on May 20 2025. He is surrounded by the plant’s staff who are clapping.

The PCAOB has despatched groups to examine Chinese language audit companies yearly since a take care of Beijing in 2022 that was agreed after Congress handed a legislation to delist corporations whose auditors weren’t topic to US oversight.

PCAOB chair Erica Williams this month informed the FT that the regulator continued to check “each side of that very prescriptive settlement” to make sure it may possibly examine and examine utterly. “Up to now we now have been capable of,” she stated.

However she warned that the settlement between the PCAOB, the China Securities Regulatory Fee and China’s finance ministry would lapse if the oversight board was abolished.

A Republican proposal to shut the company and take up its capabilities into the SEC is included in Trump’s tax invoice, which is making its means by Congress.



Source link

Tags: ChinesecompaniesdelistingRepublicansSECStateTopurge
Share196Tweet123
Previous Post

JP Morgan sees modest USD depreciation ahead amid rebalancing, hedging flows.

Next Post

Binance Asks U.S. Court to Dismiss $1.76 Billion Clawback Lawsuit Filed by FTX Estate

Investor News Today

Investor News Today

Next Post
Is Prop Trading Facing Arbitrage Manipulation? XTB 2024 Results, and More

Binance Asks U.S. Court to Dismiss $1.76 Billion Clawback Lawsuit Filed by FTX Estate

  • Trending
  • Comments
  • Latest
Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

Equinor scales back renewables push 7 years after ditching ‘oil’ from its name

February 5, 2025
Niels Troost has a staggering story to tell about how he got sanctioned

Niels Troost has a staggering story to tell about how he got sanctioned

December 14, 2024
Best High-Yield Savings Accounts & Rates for January 2025

Best High-Yield Savings Accounts & Rates for January 2025

January 3, 2025
Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

Suleiman Levels limited V 3.00 Update and Offer – Analytics & Forecasts – 5 January 2025

January 5, 2025
Why America’s economy is soaring ahead of its rivals

Why America’s economy is soaring ahead of its rivals

0
Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

Dollar climbs after Donald Trump’s Brics tariff threat and French political woes

0
Nato chief Mark Rutte’s warning to Trump

Nato chief Mark Rutte’s warning to Trump

0
Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

Top Federal Reserve official warns progress on taming US inflation ‘may be stalling’

0
Tokenised money market funds: pseudo-money

Tokenised money market funds: pseudo-money

July 10, 2025
selling new shares to pay dividends

selling new shares to pay dividends

July 10, 2025
OPEC slashes global oil demand forecasts for the coming years in latest outlook report

OPEC slashes global oil demand forecasts for the coming years in latest outlook report

July 10, 2025
Bitcoin Soared—But Mainstream News Was Missing In Action, Study Reveals

Bitcoin Soared—But Mainstream News Was Missing In Action, Study Reveals

July 10, 2025

Live Prices

© 2024 Investor News Today

No Result
View All Result
  • Home
  • Market
  • Business
  • Finance
  • Investing
  • Real Estate
  • Commodities
  • Crypto
  • Blockchain
  • Personal Finance
  • Tech

© 2024 Investor News Today