US takes new step on delisting Chinese firms from stock exchanges

The US Securities and Exchange Commission adopted a new rule on Wednesday that will help the agency force companies flouting US audit regulations to delist from US exchanges, a move that threatens hundreds of Chinese businesses.According to the rule, which was first proposed in May followed by two months of public comment, all companies with headquarters in a jurisdiction where the authorities refuse to let businesses comply with US regulators will be considered non-compliant, with limited…