Reuters: Chinese firms that fail U.S. accounting standards to be delisted as of 2022: Mnuchin
Wed August, 2020, Age: 2 years
U.S. Treasury Secretary Steven Mnuchin on Monday said companies from China and other countries that do not comply with accounting standards will be delisted from U.S. stock exchanges as of the end of 2021. Mnuchin and other officials recommended the move to the U.S. Securities and Exchange Commission last week to ensure that Chinese firms are held to the same standards as U.S. companies, prompting China to call for frank dialogue. Mnuchin told a White House briefing the SEC was expected to adopt the recommendations. “As of the end of next year … they all have to comply with the same exact accounting, or they will be delisted on the exchanges,” he said.