© Reuters. FILE PHOTO: Chinese and U.S. flags flutter outside the building of an American company in Beijing, China January 21, 2021. REUTERS/Tingshu Wang
WASHINGTON (Reuters) – An official at the U.S. Securities and Exchange Commission said on Tuesday that “significant issues remain” in reaching a deal with China over a long-running dispute around auditing compliance of Wall Street-listed firms based in Beijing.
The SEC’s international affairs chief, YJ Fischer, told an audience that the agency’s accounting body, the U.S. Public Company Accounting Oversight Board, would need to complete China audit inspections by Nov. 22 to meet a Chinese company 2023 delisting deadline.
Fischer added that Chinese authorities should consider delisting from U.S. exchanges a “subset of issuers” that it deems “too sensitive to comply” with U.S. rules.
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