Senate Bill S945
Not 100% on this information, could just be rumor.
Senate Bill S945 is up for a vote at the house this Wednesday.
The bill will likely pass and then get passed onto Trump.
Trump is expected to sign it into law.
If signed into law, companies that don’t comply will be delisted. Chinese government subsidized companies like $NIO, $LI, $XPEV will likely be affected.
Companies like $BABA, $JD that are considered Chinese stocks but not owned by the Chinese government have less chance of being affected.
This bill requires U.S. publicly traded companies to have their books audited by an audit watchdog to remain compliant. The audit watchdog is The Public Company Accounting Oversight Board.
US Congress S945 | TrackBill
US Congress S945 2019-2020 Holding Foreign Companies Accountable Act This bill requires certain issuers of securities…