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Chinese firms warned by SEC about risk of changing auditors
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The Securities and Exchange Commission on 6 September warned Chinese companies not to violate legal and audit requirements as they switch to auditors based in the US to comply with a law that threatens to delist the businesses from American stock exchanges.
More than 200 US-listed Chinese companies are in danger of being booted off US stock exchanges starting in early 2024 under the Holding Foreign Companies Accountable Act of 2020. It prohibits trading in companies whose auditors cannot be inspected by the Public Company...
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