Beijing is scrambling to keep the U.S. from kicking Chinese firms worth $1.4 trillion off Wall Street. But Congress is in no mood for compromise

Beijing is scrambling to keep the U.S. from kicking Chinese firms worth $1.4 trillion off Wall Street. But Congress is in no mood for compromise

April 16, 2022, Fortune

Bruce Bennett spoke to Fortune about Chinese companies listed on U.S. stock exchanges and proposals over increased regulation that risk the delisting of $1.4 trillion off Wall Street.

According to Bruce, U.S. regulators want “unencumbered access’ to the Chinese auditors that are reviewing the books of U.S.-listed firms.” Bruce continued, stating that Washington regulators are using a list of noncompliant auditors to designate firms for potential delisting. Still, the U.S.’s current rules point to a “company-by-company evaluation,” meaning the 261 Chinese firms could face varying outcomes, concluded Bruce, though he cautions that the SEC could ultimately interpret the rules differently.

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