Senate bill bars Chinese companies that lie about finances from participating on U.S. exchanges

1. This bill comes several days after Just the News reported that Chinese companies continue to misreport financial data, which in turn misleads American investors, despite an Obama-era stock market deal designed to increase transparency.
2. The bill, titled the Holding Foreign Companies Accountable Act, would bar companies from being listed on any U.S. securities exchange if they have failed to meet the U.S. Public Company Accounting Oversight Board’s audits for several years in a row.
3. The Senate has passed a bipartisan measure that could prevent several Chinese companies from participating on the U.S. stock exchanges if they fail to amend their standards in accordance with U.S. audits and regulations.

https://justthenews.com/nation/economy/senate-bill-bars-chinese-companies-lie-about-finances-participating-us-exchanges