NEW YORK: US Senator Marco Rubio has asked regulators to be vigilant about keeping American investors safe from “hazards” connected with a provision in the latest US-China trade deal that encourages investment in China’s non-performing loan market.
Copies also went to Securities and Exchange Commission Chairman Jay Clayton and top Department of Justice prosecutors. Rubio, a member of the Senate Committee on Foreign Relations, has criticised increased US investments in China because of what he says are corporate governance risks and companies whose missions sometimes run counter to US interests.
Other firms already active in purchasing pools of Chinese non-performing loans include Bain Capital Credit LP and Blackstone Group LP.
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