Senate Passes Bill To Boot Chinese Cos. From US Exchanges
Law360 (May 20, 2020, 9:23 PM EDT) -- The U.S. Senate unanimously passed a bill Wednesday that would tighten requirements for foreign companies hoping to sell shares in America and, as its sponsor put it, "kick deceitful Chinese companies off U.S. exchanges."
The Holding Foreign Companies Accountable Act would prohibit a public company's securities from being listed on any U.S. securities exchange if the business hasn't complied with the Public Company Accounting Oversight Board's audit standards for three years in a row.
That would present a large obstacle for companies registered in China and Hong Kong, where the government does not allow the PCAOB to inspect audits of public...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!