The SEC has issued a $20 million fine against Deloitte-China, for failing to comply with U.S. audit requirements. In a Sept. 29 announcement, the Securities and Exchange Commission (SEC) penalized Deloitte Touche Tohmatsu Certified Public Accountants LLP (Deloitte-China) for “failing to comply with fundamental U.S. auditing requirements in its component audits of U.S. issuers and…
Deloitte-China Ordered to Pay $20 Million SEC Fine
October 11, 2022
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ChinaChina Business & EconomyChinese RegimePCAOBThe Holding Foreign Companies Accountable ActU.S.-listed Chinese companiesUS-China relations
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China Won’t Easily Remove Its Listed Companies from US Stock Exchanges
China won’t easily remove its listed companies from U.S. stock exchanges because these companies hold significant meaning to the Chinese Communist Party (CCP). At the same time, Chinese authorities are unwilling to comply with U.S. audit requirements because such audits might uncover fraud and the fact that these companies are state-controlled, which violates U.S. regulations….
Rising Number of Chinese Companies to Delist from US Exchanges Due to Poor Performance
January 30, 2022
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Business & EconomyChinaChina Business & Economydelistinglisting standardsMarketsNASDAQ Golden Dragon ChinaNYSEstocksU.S.-listed Chinese companies
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A rising number of Chinese companies listed on Wall Street are under pressure to be cut off from U.S. capital markets due to poor performance and non-compliance with listing standards. Beijing-based MMTec, Inc. announced on Jan. 28 that it got notification from Nasdaq’s Listings Qualifications Department as its common stock had been trading below $1…
A Time Out to Reassess Chinese Stocks
August 15, 2021
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Business & EconomyChinaChinese CompaniesChinese stocksOpinionThinking About ChinaU.S.-listed Chinese companies
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Commentary Beijing policymakers have sought to calm the financial markets after a period of heavy-handed and unexpected crackdowns on several sectors. Now is a good opportunity for foreign investors to reassess their investments in Chinese companies. After a period of market volatility, Beijing authorities have unveiled a broad five-year plan to regulate large swaths of…
Chinese Ride-Hail Firm Didi Expected to Raise Billions In US Listing Amid Increased Scrutiny
WASHINGTON—Chinese companies are going public on U.S. stock exchanges at a record pace this year. China’s ride-hailing giant Didi Chuxing is the latest firm that’s poised to go public in New York, rebuffing an increased crackdown on U.S.-listed Chinese companies. Didi on June 10 filed a prospectus for its initial public offering (IPO), with a plan…
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