Pompeo calls Nasdaq's strict rules a model to guard against fraudulent Chinese companies

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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.

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.

 

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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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