The Senate today passed a bill that would expel Chinese companies from U.S. stock exchanges if they continue to deny inspectors access to their audits, ratcheting up the conflict between the two countries
pursuant to the 2002 Sarbanes-Oxley Act.
Investor advocates and members of Congress have raised alarm after hundreds of billions of dollars in Chinese equities have poured into U.S. stock exchanges in recent years, even though the country continually refuses U.S. regulators access to inspect their accounting audits. In a letter from National Economic Council Director Larry Kudlow and National Security Adviser Robert O'Brien on the retirement board issue, the White House said investing federal funds in Chinese companies presented both a national security threat as well as an unnecessary economic risk for federal retirees.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Senate passes bill on oversight of Chinese companies, Alibaba shares move lower
Read more »
Chinese Companies Must Play By American Rules Or Be Banned From U.S. Exchanges, Senate RulesThe new bill passed by the Senate would force Chinese companies to certify that “they are not owned or controlled by a foreign government.”
Read more »
Rubio named acting Senate Intelligence chairman amid FBI probe into Sen. Richard BurrThe Florida Republican has generally defended the work of U.S. intelligence agencies and has been a foreign policy hawk on Russia and China.
Read more »
Powell, Mnuchin to face Senate grilling on U.S. coronavirus responseThe U.S. government's handling of its massive economic response to the coronavirus pandemic will come under scrutiny on Tuesday as Treasury Secretary Steven Mnuchin and Federal Reserve Chair Jerome Powell testify before the Senate Banking Committee.
Read more »
Marco Rubio will lead Senate Intelligence Committee as FBI investigates Richard Burr for insider tradingSenate Majority Leader Mitch McConnell announced the leadership change on Monday afternoon, calling Rubio a 'natural choice' for the position.
Read more »
Rubio To Replace Burr On Senate Intel Committee Amid Insider Trading ProbeSen. Marco Rubio has been named as the acting Senate intelligence committee chairman to replace Sen. Richard Burr
Read more »