Fri May 22, 2020, 11:53 AM

Chinese Companies Could Be Delisted From U.S. Stock Exchanges: What It Means for Investors

This story makes me smile. Beijing Biden's Commie masters, not so much.

"The U.S. Senate approved the Holding Foreign Companies Accountable Act (HFCAA) on Wednesday, sweeping legislation that could result in non-U.S. companies that fail to meet a number of strict criteria being barred from trading on U.S. stock exchanges. The bill was approved without objection.

One of the key provisions of the legislation is that companies would be required to certify that "they are not owned or controlled by a foreign government." Lawmakers would also require that these statements be backed up by an audit conducted by the Public Company Accounting Oversight Board (PCAOB).

The legislation would still need to pass the House of Representatives before being sent to President Trump for final approval. If passed, though, the law could have far-reaching effects on foreign companies already listed on U.S. exchanges, especially those from China.

On the chopping block?
Last year, a U.S. government regulator compiled a list of 165 Chinese companies whose stocks were listed on U.S. exchanges and that could ultimately be affected by the legislation. Among those are a number of relatively high-profile companies from China that are popular with U.S. investors."


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Reply Chinese Companies Could Be Delisted From U.S. Stock Exchanges: What It Means for Investors (Original post)
Muddling Through May 22 OP
Troll2 May 22 #1

Response to Muddling Through (Original post)

Fri May 22, 2020, 01:51 PM

1. They'll list on the Shanghai and Hong Kong exchanges, maybe Singapore, etc.

Wonder how this will affect other non-Chinese companies that have significant government ownership, such as airlines, oil companies, etc?

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