A 'financial war' with China could be brewing on top of the trade war

U.S. regulators have long sought more transparency from Chinese companies with shares trading on U.S. exchanges, but Chinese authorities have resisted their demands.

The Securities and Exchange Commission wants you to know more about what is happening with Chinese companies that list in the United States. The regulators also want you to know that they are having a really hard time finding out exactly what is going on. One particularly weak point stands out: auditing procedures. The Sarbanes-Oxley Act of 2002 established the Public Company Accounting Oversight Board. It required that every domestic and foreign accounting firm that issues audit reports for companies that report to the SEC register with the board. The board is required to periodically inspect registered firm audits of U.S. public companies, including those done by foreign firms.

This roundtable should be viewed as part of a continuing effort to build a case against China's recalcitrance, according to Roger Silvers, an accounting professor at the University of Utah who previously worked for the SEC, and who submitted comments to the roundtable.

BobPisani It’s inevitable. But we have something China doesn’t. The US dollar and highly efficient financial markets. 🇺🇸

BobPisani Trump needs to go, before they bring down the US Dollar.

BobPisani realDonaldTrump PeterNavarro45 davidfaber China is USA ENEMY, why is it we have incompetent leaders who kiss Xis ass for what They steal IP, create the exact company just in China They have way more people than us and if we don’t put restrictions on them we will become Rome

BobPisani Decouple

BobPisani Lol the secenforcement has never done a thing for anyone except themselves and criminal buddies. Who cares about Chinese companies when every week there is at least one pump and dilute, multiple fudged earnings reports to get revised later, and too much to list.

Well, this is great news, particularly since our economy has been uniquely negatively impacted by the inept management of the Coronavirus pandemic by the WhiteHouse vs. the rest of world. It’s the exact wrong time for us to be in a “financial” or trade war with China.

China is sucking up farmland in Texas and Maine since 2014 without the land sales being updated by the office of the Secretary of Agriculture!

Requiring Chinese companies to abide by securities and financial regulations like every American company does IS NOT WAR. It is called level the playing field.

the issues (i.e. fraud, transparency, etc) raised by the article are certainly worth mentioning, but it seems the article and similar ones kind of obscure the overall picture of Chinese stocks listed in the US since many high profile Chinese stocks have been performing very well

Trump will be in way over his head

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