President Donald Trump issued a memorandum on Thursday calling for recommendations to be issued within 60 days to protect U.S. investors from what he said was China’s failure to allow audits of U.S.-listed Chinese companies.
(June 5): U.S. Secretary of State Mike Pompeo on Thursday warned American investors against fraudulent accounting practices at China-based companies and said the Nasdaq’s recent decision to tighten listing rules for such players should be “a model” for all other exchanges around the world.
His remarks on the issue, reported first by Reuters before being delivered via a statement, illustrate the Trump administration’s desire to make it harder for some Chinese companies to trade on exchanges outside of China.
