US House passes China-related delisting bill

Wednesday, 02. December 2020 23:06

United States House of Representatives approved the bill that could ban Chinese and other foreign companies from listing and trading on US stock exchanges if they do not comply with the Public Company Accounting Oversight Board's (PCAOB) audits for three consecutive years.

The legislation, called Holding Foreign Companies Accountable Act, passed the House in a unanimous vote on Wednesday. It was approved by the Senate in May.

The bill now goes to President Donald Trump for signing into law.

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Breaking the News / MS