2020-06-19 18:59:36, , source
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/Business & Industrial
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Bill S.945, passed by the Senate last week, states any US-listed Chinese company that does not allow the Public Company Accounting Oversight Board (PCAOB) to review their audited financials for three consecutive years could be delisted1.
While the risk of fraud can never entirely be avoided (look at Enron and WorldCom in the US) we do not believe a single bad actor, like Luckin Coffee, is indicative of all US-listed Chinese companies.
We believe this legislation creates the appearance of a tough stance, but leaves ample room for a thoughtful resolution, without harming US-listed Chinese firms or US investors.
All US-listed Chinese companies must meet the listing requirements of US exchanges like NASDAQ, the New York Stock Exchange (NYSE), and the NYSE American Stock Exchange.
Bill S.945, passed by the Senate last week, states any US-listed Chinese company that does not allow the Public Company Accounting Oversight Board (PCAOB), to review their audited financials over three consecutive years could be delisted.
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