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SEC Adds Alibaba to List of Chinese Companies Facing Delisting

News Snapshot:

NEW YORK—The US Securities and Exchange Commission on Friday added Alibaba Group Holding to a list of Chinese companies at risk of being delisted from the US exchanges if their auditors cannot be inspected before spring 2024. Under the Holding Foreign Companies Accountable Act of 2020—which took effect in 2021—the US can ban the trading of securities of companies whose auditors cannot be inspected by the American audit watchdog for three consecutive years.

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