The Public Company Accounting Oversight Board (PCAOB) announced on August 26, 2022, that it has signed a Statement of Protocol (SOP) Agreement with the China Securities Regulatory Commission (CSRC) and China’s Ministry of...more
9/9/2022
/ Accounting ,
Accounting Standards ,
Auditors ,
China ,
China Securities Regulatory Commission (CSRC) ,
Government Investigations ,
Hong Kong ,
Inspections ,
Internal Audit Functions ,
PCAOB ,
Public Accounting Oversight Board ,
Publicly-Traded Companies
President Biden has signed an Executive Order effective August 2, 2021, affirming and expanding U.S. policy restricting the purchase and sale of publicly traded securities of listed Chinese companies with a nexus to China's...more
7/15/2021
/ Biden Administration ,
China ,
Defense Sector ,
Economic Sanctions ,
Executive Orders ,
Foreign Investment Fund ,
Foreign Policy ,
Human Rights ,
Investors ,
Office of Foreign Assets Control (OFAC) ,
Prohibited Transactions ,
Securities Transactions ,
Surveillance
This alert addresses recent developments relating to former President Trump's executive orders on Chinese Military Companies that affect both investors in covered securities and exporters.
OFAC's Frequent Asked Questions -...more
The Holding Foreign Companies Accountable Act (Act), which was signed into law by President Trump on December 18, 2020, amends the Sarbanes-Oxley Act of 2002 (Sarbanes-Oxley) and requires the Securities and Exchange...more
12/30/2020
/ Amended Legislation ,
Audits ,
China ,
Corporate Governance ,
Foreign Corporations ,
Government Entities ,
New Legislation ,
PCAOB ,
Publicly-Traded Companies ,
Sarbanes-Oxley ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
On December 23, 2020, the U.S. Department of Commerce Bureau of Industry and Security (BIS) issued the anticipated list of designated military end users (MEU List) under Section §744.21 (MEU Rule) of the Export Administration...more
12/29/2020
/ Bureau of Industry and Security (BIS) ,
China ,
Department of Defense (DOD) ,
Entity List ,
Export Administration Regulations (EAR) ,
Export Controls ,
Exports ,
Military End Use ,
National Security ,
NDAA ,
Russia ,
U.S. Commerce Department
On November 12, 2020, President Trump issued an executive order (the "Order") prohibiting United States persons from investing in publicly traded securities of any person designated by the Secretary of Defense or the...more
11/18/2020
/ China ,
Defense Sector ,
Department of Defense (DOD) ,
Divestment ,
Foreign Investment ,
International Emergency Economic Powers Act (IEEPA) ,
National Security ,
NDAA ,
Publicly-Traded Companies ,
Trump Administration ,
US Trade Policies
China announced new policies to further open its financial sector to foreign investors in November 2017, and has recently updated its timetable to implement these policies. On April 10, 2018, President Xi Jinping made a...more
After 24 rounds of negotiations, former Chinese Minister of Commerce Chen Deming announced on March 23, 2016, that the United States and China have resolved several key roadblocks and are close to signing a U.S.-China...more
On September 21, 2015, the 16th session of the Central Leadership Group for Comprehensively Deepening the Reform adopted “Opinions on Implementing the Negative List System for Market Access” (Opinions) announcing that China...more