A China Securities Regulatory Fee signal is seen on the regulator’s headquarters on November 16, 2020 in Beijing.
Vcg | Visible China Group | Getty Photographs
BEIJING — China’s securities regulator instructed CNBC in a press release it has not researched a plan for a three-tiered system to assist Chinese language firms keep away from U.S. delisting.
The Monetary Instances reported, citing sources, that China is getting ready a system to separate U.S.-listed Chinese language firms into three teams based mostly on their stage of information sensitivity. The report mentioned that system would assist some Chinese language firms come into compliance with U.S. calls for to have the ability to examine audit papers.
The China Securities Regulatory Fee added that firms ought to adjust to knowledge safety and itemizing guidelines, no matter whether or not they have been going public on the mainland or overseas. The regulator mentioned different details about ongoing discussions with U.S. regulators ought to come from official bulletins.
Regulators in Washington and Beijing have been working to resolve an audit dispute that has threatened U.S.-listed Chinese language firms with delisting.
Since March, the U.S. Securities and Trade Fee named particular U.S.-listed Chinese language shares that fail to stick to the Holding Overseas Firms Accountable Act. Handed in 2020, the act would permit the SEC to delist Chinese language firms from U.S. exchanges if American regulators can not evaluate firm audits for 3 consecutive years.
This text was initially printed by cnbc.com. Learn the authentic article right here.
Comments are closed.