- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-05-27T20:10:00
The “Holding Foreign Companies Accountable Act,” passed unanimously by the Senate and now headed to the House, looks to rein in accounting improprieties of Chinese-based companies listed on the U.S. Stock Exchange.
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In a bipartisan and unanimous vote, the House passed a bill Wednesday that could kick publicly traded Chinese-based companies off U.S. exchanges.
In an attempt to end the stalemate over audits of publicly traded Chinese companies listed on U.S. exchanges, China has reportedly proposed to allow U.S. regulators to conduct a trial joint inspection of a state-owned enterprise.
The U.S. Department of the Treasury announced sanctions against 11 individuals for “undermining Hong Kong’s autonomy and restricting the freedom of expression or assembly of the citizens of Hong Kong.”
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
