SEC Chief Backs Bill to Delist China Firms Barring Audit Reviews
- Senate-passed measure takes ‘sensible’ approach, Clayton says
- SEC’s chairman comments in Bloomberg Invest Talks interview
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Wall Street’s top regulator is signaling support for legislation that could lead to the delisting of Chinese companies from U.S. stock exchanges if American officials aren’t allowed to review their financial audits.
A bill passed by the Senate last month that would bar trading in securities of companies that fail to comply for three straight years is “sensible,” U.S. Securities and Exchange Commission Chairman Jay Clayton said Tuesday in an interview with David Westin during the Bloomberg Invest Talks conference. The SEC would have to write a rule to implement part of the measure if it is signed into law.