WASHINGTON - U.S. Secretary of State Mike Pompeo on Thursday warned American investors against ‘fraudulent’ accounting practices of China-based companies and said the Nasdaq’s recent decision to tighten listing rules for such players should be a model for all other exchanges around the world.
It also represents the latest flashpoint in the relationship between Washington and Beijing at a time of escalating tensions between the world’s two largest economies over trade, the coronavirus pandemic as well as a spat over Hong Kong. Nasdaq Inc took action last month and tightened listing rules, in a bid to curb initial public offerings of Chinese companies closely held by insiders and with opaque accounting.
He also said he was instructing a presidential working group to study the differing practices of Chinese companies listed on the U.S. financial markets, with the goal of protecting American investors. As a result of the U.S. pressure, many U.S.-listed Chinese firms will likely list on the Hong Kong exchange this year in part because of U.S. political pressure, the head of the exchange said Thursday.
An admitted cheater and liar, telling regulator to watch out for fraudulent competitors, yeh got it :-)
Trump released a dog
Nothing you can do about it. Restructure the country. Make america great again which I continue same thing before going down won’t work. Economical genius
Which companies caused 2008 Wall St crisis and 2016 technology disruptions (US elections, Brexit etc) and 2020 Covid-19 disinformation? ALL US COMPANIES.
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Source: CNBC - 🏆 12. / 72 Read more »