THE us Securities and Exchange Commission has adopted a rule that forces companies who refuse to reveal audited results - typically mainland Chinese companies - to delist from US exchanges, reports Hong Kong's South China Morning Post.
All companies based in a jurisdictions where the authorities refuse to let businesses reveal audits - with US regulators will be considered non-compliant, with limited exceptions.
The adoption of the rule was the biggest step yet by the US toward instituting the Holding Foreign Companies Accountable Act (HFC) that became law at the end of 2020. Under the law, foreign companies listed on US exchanges will face delisting if they fail to turn
SeaNews Turkey
All companies based in a jurisdictions where the authorities refuse to let businesses reveal audits - with US regulators will be considered non-compliant, with limited exceptions.
The adoption of the rule was the biggest step yet by the US toward instituting the Holding Foreign Companies Accountable Act (HFC) that became law at the end of 2020. Under the law, foreign companies listed on US exchanges will face delisting if they fail to turn
SeaNews Turkey