The SEC chief’s tough words show the US remains unwavering in its demand that American regulators get full access to the audits. Gensler also underscored that US law gives him little room for compromise – and a congressionally imposed deadline of 2024 for kicking businesses off the New York Stock Exchange and Nasdaq Stock Market unless China acquiesces is looming.
Securities and Exchange Commission Chair Gary Gensler tamped down speculation that a deal is brewing to keep about 200 Chinese stocks from losing their listings, signalling that only total compliance with US audit inspections will allow the companies to keep trading on American markets.
“There have been thoughtful, respectful, productive conversations, but I don’t know where this is going to end up,” Gensler said in a Tuesday interview, referring to ongoing negotiations. “It’s up to the Chinese authorities, and it could be frankly a hard set of choices for them.”
