
Senate Passes Bill to Delist Chinese Companies from Exchanges - yumraj
https://www.bloomberg.com/news/articles/2020-05-20/senate-passes-bill-to-delist-chinese-companies-from-exchanges
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colejohnson66
This doesn’t affect just Chinese companies; it applies to _any_ company
controlled by a foreign government. So the title isn’t fully accurate.

The bill is _very_ short, but here’s the relevant section (§2B):

> (B) require each covered issuer identified under subparagraph (A) to, in
> accordance with the rules issued by the Commission under paragraph (4),
> submit to the Commission documentation that establishes that the covered
> issuer is not owned or controlled by a governmental entity in the foreign
> jurisdiction described in subparagraph (A)(i).

Maybe it’s just me, but this is _very_ vague. What about US based
subsidiaries? I do also find it peculiar how it explicitly mentions “foreign
jurisdiction”; which means companies doing the business of the NSA are exempt.

For those wanting to read the bill, it’s S.945:
[https://www.congress.gov/bill/116th-congress/senate-
bill/945...](https://www.congress.gov/bill/116th-congress/senate-
bill/945/text)

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droopyEyelids
It sounds like it's trying to address the points made in "The China Hustle"
[1] where investors aren't able to assess Chinese companies listed on US
markets.

"If a company can’t show that it is not under such control OR the Public
Company Accounting Oversight Board isn’t able to audit the company for three
consecutive years to determine that it is not under the control of a foreign
government, the company’s securities would be banned from the exchanges."

[1]
[https://www.youtube.com/watch?v=h_wi8Ti9vUY](https://www.youtube.com/watch?v=h_wi8Ti9vUY)

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RileyJames
If a company is dual listed on us and Chinese exchange, can you trade /
transfer your shares from one exchange to the other?

I imagine it’s difficult, but possible. Does anyone have any experience doing
so?

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dpc_pw
I have some tiny stake in some Chinese railroads listed on NY exchange. Not
only it got decimated due to COVID, but now I will be forced to sell because
of this? Bummer. :D

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Fjolsvith
Not for Chinese investors buying it back.

