Category: The Holding Foreign Companies Accountable Act

ANALYSIS: Nasdaq Golden Dragon Index Plunges as China Concept Stocks Retreat to Hong Kong

May 4, 2023
Business & MarketsChinaChina Business & EconomyChina Concept Stocksgary genslerHK BusinessHong KongJanet YellenMarketsNasdaq Gold Dragon China IndexThe Holding Foreign Companies Accountable ActTsai Ing-wenUS-China relations
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News Analysis The Nasdaq Golden Dragon China Index fell for eight straight sessions—the longest losing streak in over a year—amid heightened tension between the United States and China. Meanwhile, threatened by the U.S. Holding Foreign Companies Accountable Act, Chinese companies have shifted large chunks of equity to Hong Kong. The Nasdaq Golden Dragon China Index,…

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Deloitte-China Ordered to Pay $20 Million SEC Fine

October 11, 2022
ChinaChina Business & EconomyChinese RegimePCAOBThe Holding Foreign Companies Accountable ActU.S.-listed Chinese companiesUS-China relations
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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…

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US Accounting Regulators Demand Complete Access to China-Based Audits

September 23, 2022
Business & MarketsChinaChina Business & EconomyChina Securities Regulatory Commissioneconomic policieseconomyThe Holding Foreign Companies Accountable ActUSUS NewsUS-China relations
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The U.S. accounting audit regulator delivered a warning regarding the integrity and complete access to work papers of accounting firms of New York-listed Chinese companies. Public Company Accounting Oversight Board (PCAOB) Chair Erica Williams made the remarks on Sept. 22 at the Council of Institutional Investors (CII) Fall Conference. She emphasized, “Voluntarily delisting is not…

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