Pelosi says House is looking at bill that could delist some Chinese companies from US stock exchanges

From THEHILL.COM

Speaker Nancy Pelosi (D-Calif.) said Thursday that the House is taking a look at a bipartisan Senate-passed bill that could result in barring some Chinese companies from listing shares on U.S. stock exchanges.

"We'll review it in the House. I've asked my committees to take a look at what it is," Pelosi said during an interview with Bloomberg Television.

The Senate passed legislation by unanimous consent on Wednesday that would require public companies to disclose whether they are owned or controlled by a foreign government and submit to audits that can be reviewed by the Public Company Accounting Oversight Board.

Under the bill authored by Sens. John Kennedy (R-La.) and Chris Van HollenChristopher (Chris) Van HollenCongress eyes changes to small business pandemic aid It's time to invest in America's future Hillicon Valley: Uber to lay off thousands of employees | Facebook content moderation board announces members | Lawmakers introduce bill to cut down online child exploitation MORE (D-Md.), a company that doesn't comply with the oversight board's audits for three consecutive years would be banned from being listed on U. S. exchanges. Rep. Brad ShermanBradley (Brad) James ShermanZoom, grocery delivery, self-isolation: How lawmakers are surviving coronavirus California Democrat wears face mask while presiding over House pro forma session Pelosi scrambles to secure quick passage of coronavirus aid MORE (D-Calif.) has introduced companion legislation in the House.

Passage of the legislation comes amid high tensions between the U. S. and China, particularly over the handling of the coronavirus pandemic that first emerged in the Chinese city of W... (Read more)

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