In the Media

An article of May 22, 2020 in Bloomberg by Jenny Leonard, Benjamin Bain and Sridhar Natarajan highlighted the Senate’s recent passing on a bipartisan basis of the “Holding Foreign Companies Accountable Act (S. 945),” which creates a path for Chinese companies to be delisted from U.S. stock exchanges if they fail to meet certain requirements with regard to attestations regarding their degree of state-ownership or state control and making their audits available to inspection by the Public Company Accounting Oversight Board (PCAOB).

RWR’s CEO, Roger Robinson, offered the view that the bill is a

“remarkable bipartisan repudiation of the preferential treatment accorded to Chinese companies in our capital markets. Three years, however, is far too long before decisive action is taken against non-compliant companies.”