- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
U.S. regulators are contemplating what next steps they can take to rattle some greater cooperation out of overseas regulators, especially in China.
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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.
Scathing reports against China-based Luckin Coffee and iQIYI both alleging fabricated revenues are the latest examples of a much broader accounting and auditing problem in the United States.
Bipartisan legislation proposes to increase oversight on China-based companies listed on U.S. exchanges and delist those that fail to comply in three years.
