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. . The US stock market regulator plans to kick Chinese companies off Wall Street unless they allow their inspectors to check their auditors.
. . (Bloomberg) - Securities and Exchange Commission officials urge Chinese companies to start trading stocks in the US. S.. . to ensure that investors are aware of the potential risks they face due to the limited ability of US regulators to review their books. The lawyers for the SEC department, which is reviewing the company's records, released guidelines for employees on Monday, stating the "far greater risk" that information from Chinese companies could be incomplete or misleading. They cited concerns, including that inspectors are unable to review audits by China-based companies. The guidelines do not have the power of an SEC rule, but they can have immediate impact as corporate attorneys seek to avoid enforcement actions for improper disclosure of risks. U. . S.. . According to the Securities Act, all listed companies must inform investors about all risks that are considered “material”. The SEC's corporate finance move follows the recommendations of the president's working group, which includes SEC chairman Jay Clayton and other top U's. S.. . Financial regulators. China and the U. . S.. . have long divided over Beijing's refusal to allow the Public Company Accounting Oversight Board to review the work of auditors for Chinese companies. In addition to Monday's announcement, the SEC is pushing a plan that could result in Chinese companies being divested by U.. S.. . Exchanges on the same issue, Bloomberg News reported last week. "Issuers based in China must fully disclose material risks in connection with their business activities in China," the lawyers of the SEC said in the guide. “Investors in China-based issuers may not benefit from a regulatory environment that promotes effective U enforcement. S.. . Federal Securities Acts. According to the SEC, Chinese issuers should consider key issues when disclosing risk: PCAOB's inability to review audits and the difficulties U. . S.. . Regulators have access to working papers. The limited ability of U. . S.. . Authorities to conduct investigations. The use of corporate structures different from U's. S.. . Firms and Restricting Shareholders' RightsThe risks associated with China's "less developed legal system" and the country's changing regulations. You can find more articles like this on bloomberg. comSubscribe now to stay one step ahead with the most trusted business news source. © 2020 Bloomberg L. . P. .

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