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Pompeo urges global exchanges to tighten listing rules as US-China relations fall into further acrimony

Reuters
Reuters6/5/2020 01:28 PM GMT+08  • 4 min read
Pompeo urges global exchanges to tighten listing rules as US-China relations fall into further acrimony
More Chinese firms set to list in Hong Kong this year due to tightened measures.
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(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.

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.

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