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What is HFCA Act ?
Holding Foreign Companies Accountable Act
The Holding Foreign Companies Accountable Act prohibits securities of a company from being listed on any of the U.S. securities exchanges if the company has failed to comply with the Public Company Accounting Oversight Board’s (PCAOB) audits for three years in a row.
The bill would also require public companies to disclose whether they are owned or controlled by a foreign government, including China’s communist government.
https://www.kennedy.senate.gov/publ...deceitful-chinese-companies-off-u-s-exchanges
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The legislation needs to pass the House before going to the WH to be signed into law.
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Chinese Companies Could Be Delisted From U.S. Stock Exchanges: What It Means for Investors
The U.S. Senate approved the Holding Foreign Companies Accountable Act (HFCAA) on Wednesday, sweeping legislation that could result in non-U.S. companies that fail to meet a number of strict criteria being barred from trading on U.S. stock exchanges. The bill was approved without objection.
"The Chinese Communist Party cheats, and the Holding Foreign Companies Accountable Act would stop them from cheating on U.S. stock exchanges," Kennedy wrote in a post on Twitter. "We can't let foreign threats to Americans' retirement funds take root in our exchanges."
https://www.fool.com/investing/2020/05/21/chinese-companies-delisted-us-stock-what-means.aspx
Holding Foreign Companies Accountable Act
The Holding Foreign Companies Accountable Act prohibits securities of a company from being listed on any of the U.S. securities exchanges if the company has failed to comply with the Public Company Accounting Oversight Board’s (PCAOB) audits for three years in a row.
The bill would also require public companies to disclose whether they are owned or controlled by a foreign government, including China’s communist government.
https://www.kennedy.senate.gov/publ...deceitful-chinese-companies-off-u-s-exchanges
--
The legislation needs to pass the House before going to the WH to be signed into law.
--
Chinese Companies Could Be Delisted From U.S. Stock Exchanges: What It Means for Investors
The U.S. Senate approved the Holding Foreign Companies Accountable Act (HFCAA) on Wednesday, sweeping legislation that could result in non-U.S. companies that fail to meet a number of strict criteria being barred from trading on U.S. stock exchanges. The bill was approved without objection.
"The Chinese Communist Party cheats, and the Holding Foreign Companies Accountable Act would stop them from cheating on U.S. stock exchanges," Kennedy wrote in a post on Twitter. "We can't let foreign threats to Americans' retirement funds take root in our exchanges."
https://www.fool.com/investing/2020/05/21/chinese-companies-delisted-us-stock-what-means.aspx
