Home / World News / US market regulator threatens stock market ban for Chinese companies

US market regulator threatens stock market ban for Chinese companies

This comes amid China's refusal for review audits of Alibaba, Baidu and others

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The move is unusual because most agencies stop issuing major new policies after a presidential election, especially when a new party is taking power | Photo: Reuters

Bloomberg

3 min read Last Updated : Nov 19 2020 | 12:00 AM IST

The US Securities and Exchange Commission is pushing ahead with a plan that threatens to kick Chinese companies off US stock exchanges, setting up a late clash between Washington and Beijing as the Trump administration winds down.

By the end of this year, the SEC intends to propose a regulation that would lead to the delisting of companies for not complying with US auditing rules, according to people familiar with the matter.

Agency officials have been moving quickly on a rule since August, when the President’s Working Group on Financial Markets — a regulatory council whose members include SEC Chairman Jay Clayton

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