Sen. Rick Scott Applauds SEC Proposal to Hold U.S.-Listed Chinese Companies Accountable
November 17, 2020
WASHINGTON, D.C. – Today, Senator Rick Scott released the below statement following U.S. Securities and Exchange Commission (SEC) is moving forward with a plan to require Chinese companies with shares traded in America to use auditors overseen by U.S. regulators, or face being kicked off exchanges. For months, Senator Scott has been calling for additional protections and warnings for investors about the risks associated with Chinese-based companies trading publicly on U.S. exchanges.
Senator Rick Scott said, “U.S.-listed Chinese companies present regulatory, oversight and enforcement challenges that undermine transparency and confidence in American markets. For months, I’ve called on the SEC to take action to strengthen and enhance the oversight of these Chinese-based companies. I’m glad they are taking this important step to protect investors by shutting Chinese-based companies out of U.S. exchanges if they fail to be transparent and play by the same rules as U.S. businesses.”
Senator Scott has taken the following actions to protect American investors from the threat of Communist China:
- Senator Scott is a co-sponsor of the to protect American investors and their retirement savings from foreign companies that have been operating on U.S. stock exchanges while flouting SEC oversight. The legislation passed the Senate unanimously in May.
- Senator Scott is a co-sponsor of the In January, Senator Scott sent a In February, Senator Scott In May, Senator Scott sent a to U.S. stock exchanges, major pension plans and underwriters urging them to review their policies and discontinue coordination with U.S.-listed Chinese-based companies considering the growing threat of Communist China.
- In August, Senator Scott sent a Last week, Senator Scott sent a ###
