Silicon Valley

delisting bill would protect people

4 years ago

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Van Hollen said in a statement that the delisting bill would protect people who “have been cheated out of their money after investing in seemingly legitimate Chinese companies that are not held to the same standards” as other public companies. “This bill rights that wrong, ensuring that all companies on the U.S. exchanges abide by the same rules,” he said In addition to requiring companies to allow U.S. inspectors to review their financial audits, the measure -- introduced by Kennedy and Senator Chris Van Hollen, a Maryland Democrat -- requires firms to disclose whether they are under government control.

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