Total 17 Posts

Media Company Settles China FCPA violations

Last week, the U.S. Securities and Exchange Commission (SEC) announced that Clear Channel Outdoor Holdings Inc. "agreed to pay more than $26 million to resolve charges that it bribed Chinese government officials to obtain outdoor advertising contracts in violation of the Foreign Corrupt Practices Act (FCPA)."

Philips Pays $62 Million for China FCPA violations

Last week, Netherlands-based medical device company Koninklijke Philips N.V settled a case brought against it by the U.S. Securities and Exchange Commission ("SEC") for violations of the Foreign Corrupt Practices Act ("FCPA") by its subsidiary in China.

Chinese Companies' Delisting Risk Averted for Now, Says PCAOB

Last week, a U.S. regulator announced that it has secured access to the audit records of Chinese firms, averting an imminent delisting crisis for over two hundred Chinese companies.

Republican Senator Presses SEC On China Audit Agreement

A Republican Senator is pressing the Biden administration in relation to a cooperation agreement on financial audits signed by Chinese and American regulators. Political pressure of this sort could make it more difficult to have a functioning regulatory cooperation agreement.

Five Chinese SOEs Delist from NYSE

In a further development related to the U.S.-China spat over auditing requirements for Chinese companies listed in the United States, five Chinese state-owned companies have decided to delist from the New York Stock Exchange.

U.S. Senators Call for Investigation of Stock Trade Platforms with Ties to China

Five Republican Senators are calling on the Securities and Exchange Commission (SEC) to investigate two stock trading platforms because of concerns about their data sharing practices and potential access by the CCP.

House Defense Bill Amendment Adds Reporting Requirements for Chinese Investment Firms Raising Capital in the U.S.

Last week, the U.S. House of Representatives voted to adopt an amendment led by Congressman Brad Sherman (D-CA) as part of the annual defense bill, which would require that "China-based issuers of certain unregistered securities provide basic information about themselves to the U.S. Securities and Exchange Commission
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