[ad_1]
Lawmakers said Didi executives downplayed the risks of Chinese regulation before going public and that the episode “highlights the troubling tendency of Chinese companies to take advantage of our capital markets while ignoring required transparency. by US law to access US markets.“
“The SEC should launch investigations into Chinese companies, like Didi, and their underwriters to tackle potential fraud and reporting oversights,” they said.
Republicans also urged Gensler to continue “swift implementation and enforcement” of a Kennedy-sponsored bill enacted in December that would kick China-based companies from U.S. stock exchanges if they refused to clear regulators. feds to examine their books.
In June, the Senate passed a follow-up bill that would speed up the deadline for Chinese companies to be banned from trading under the new law.
The SEC did not respond to a request for comment.
[ad_2]
Source link