RWR CEO, Roger Robinson, Comments in Bloomberg on Legislation Targeting Listings of Chinese Companies
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.”