WASHINGTON: The top U.S. securities regulator on Wednesday adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards, and require them to disclose any governmental affiliations.
The agency fast-tracked the rules around how companies should submit documentation because it was required to issue them within 90 days of the Act becoming law. The new rules come amid simmering tensions between the United States and China, with bipartisan support for a tough U.S. approach.Last week in Alaska the two countries held their first high-level meeting under President Joe Biden's administration, with both sides leveling sharp rebukes of the others’ policies.
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