“Significant issues remain” in reaching a deal with China over a long-running dispute around auditing compliance of China-based companies listed on US stock exchanges, a US Securities and Exchange Commission (SEC) official said on Tuesday, reports Reuters.
The SEC’s international affairs chief, YJ Fischer, told an audience that the agency’s accounting body, the US Public Company Accounting Oversight Board (PCAOB), would need to complete China audit inspections by Nov. 22 to meet a US deadline that will require noncompliant Chinese companies to delist by early 2023.
Fischer added that Chinese authorities should consider delisting from US exchanges a “subset of issuers” that it deems “too sensitive to comply” with US rules.
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