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NetEase added to list of over 80 Chinese companies facing delisting in US

May 6, 2022
Source: gameworldobserver.com gameworldobserver.com
News Snapshot:
The Securities and Exchange Commission (SEC) has expanded a list of companies that might be excluded from the US stock exchanges. More than 80 Chinese firms, including game publisher NetEase, are now facing delisting. The lineup was made under the Holding Foreign Companies Accountable Act, Bloomberg reported on May 4. This is a 2020 law requiring companies listed on the US stock exchanges to declare whether they are controlled or owned by the Chinese government. Companies risk being delisted in case they fail to provide regulators with specified audits for three years in a row. So that’s why the SEC...
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Tags: Bilibili | Bloomberg | Chinese | commission | delisting | game | game publisher | government | JD | JD.com | law | NetEase | New York | publisher | SEC | Securities and Exchange Commission | stock | Three | trade

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