SEC chairman Paul Atkins joins ‘morning Maria’ to discuss disclosure rules for Chinese companies trading on US exchanges.
The chairman of the US Securities Commission, Paul Attins, said that the agency is strengthening the scrutiny of Chinese firms in the US market, insisting that our rules are in line with “whether they work” in China “The list is assigned to America.
“That’s very important for us to focus on and not lose sight of,” Atkins told FOX Business’ Maria Bartiromo of the New York Stock Exchange in a structured interview on Wednesday. “We’re looking at this whole area and we’re going to be on top of it.”
For many years, the SEC has allowed foreign companies to use their home country’s standards and accounting standards when listing in the United States. These firms, referred to as foreign manufacturers, do not always have to meet US standards for accounting, executive compensation or certain disclosures if they already comply with well-established standards overseas.
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But the rise of Chinese companies operating in China, including overseas, and counting, especially in the US, has led fans to re-examine whether those excused are reasonable – especially when investors may be inclined to look more closely at US studies.
SEC Chairman Paul Atkins discusses market issues with China during an interview on “Morning with Maria.” (Pet Pictures)
“There have been Chinese companies, for example, operating in China, but they are incorporated, say, in the Caribbean and their main inventory is here in the United States.” Even if they are written here primarily. “
“Congress passed a bill that requires the sec to look at companies and, in particular, companies in China. So I don’t want to, you know, you know. “I think we need to make sure that our laws are being followed, that our laws are being followed, that we have access to the accounting documents… We actively encouraged all of that.”
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Atkin noted that the SEC has identified almost all Chinese companies that show “indicators of deceptive behavior” and “involvement that has not directly affected President Donald Trump at this time in relation to the use of Chinal.”
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SEC Chairman Paul Atkins joins ‘Morning Maria’ to break down three major barriers he says are preventing companies from going public.
“We see, without any real public information or reason for the Penny Stock market – all stocks, basically – to start growing,” he said. “We have really good people who monitor the markets and look at the information we collect … and then we take steps to close the trade before investors get hurt.”
When asked if American investors should avoid investing in these types of foreign companies, Atkins replied: “I’m talking about other types of applications that are unique to China. The operation is still there or elsewhere in Asia, and then when it is listed in the main[s] here in the US”
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