US proposes tougher Wall Street rules for China firms

New York (AFP) – US officials on Thursday proposed toughening rules for Chinese companies listed on American stock exchanges as recent scandals have prompted concerns about the reliability of some of the firms’ documents.The companies’ auditors would have to share their work papers with American regulators under the proposal from a working group led by Treasury Secretary Steven Mnuchin.Firms already on Wall Street would have until 2022 to comply or lose their listing.”The United States is the premier jurisdiction in the world for raising capital, and we will not compromise on the core principl…

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