A China Securities Regulatory Commission indication is seen at the regulator’s head office on November 16, 2020 in Beijing.
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BEIJING — China’s securities regulator informed CNBC in a declaration it has actually not investigated a prepare for a three-tiered system to assist Chinese business prevent U.S. delisting.
The Financial Times reported, pointing out sources, that China is preparing a system to different U.S.-listed Chinese business into 3 groups based upon their level of information level of sensitivity. The report stated that system would assist some Chinese business enter compliance with U.S. needs to be able to examine audit documents.
The China Securities Regulatory Commission included that business ought to abide by information security and listing guidelines, despite whether they were going public on the mainland or abroad. The regulator stated other info about continuous conversations with U.S. regulators ought to originate from main statements.
Regulators in Washington and Beijing have actually been working to fix an audit conflict that has actually threatened U.S.-listed Chinese business with delisting.
Since March, the U.S. Securities and Exchange Commission called particular U.S.-listed Chinese stocks that stop working to abide by the Holding Foreign Companies Accountable Act. Passed in 2020, the act would permit the SEC to delist Chinese business from U.S. exchanges if American regulators cannot examine business audits for 3 successive years.
