Treasurer Beadle joins top US State Republicans urging SEC delisting of Chinese companies
Treasurer Beadle has joined financial officers in 21 states urging the SEC to act against Chinese Companies that skirt US transparency and financial reporting laws.
“Top Republican financial officers from 21 states have urged the Securities and Exchange Commission to determine if Chinese companies on US stock exchanges should be delisted for failing to protect American investors.
The officers on Tuesday asked SEC chair Paul Atkins to investigate the companies because of Chinese policies that “create an environment of opaqueness that is antithetical” to the reporting requirements of US laws. “China’s actions create an environment ripe for fraud and abuse, increasing the likelihood that China-based US-listed companies will violate the disclosure, auditing or anti-fraud provisions of the Securities Exchange Act,” the officers from states including Pennsylvania, South Carolina and Arizona said in the letter obtained by the Financial Times. The letter marks the latest move in the US by groups and lawmakers who argue that American money should not be used to help Chinese companies, particularly any with links to the Chinese military. The officers said the SEC had the authority to delist firms that did not comply with the Securities Exchange Act or relied on auditors in countries where the US Public Company Accounting Oversight Board could not carry out effective inspections.”
Read more here:
https://www.ft.com/content/fc2a9bc4-59b2-4870-9bc1-4e0bbfe7aab5
A copy of the letter can be found here:
https://sfof.com/wp-content/uploads/2025/05/Delisting-Letter.pdf
