SEC cracks down on Chinese auditors, stocks could face delisting

This is from early December:

SEC Starts Proceedings against Affiliates of Five Accounting Firms
The Chinese affiliates of Deloitte, Ernst & Young, KPMG, PricewaterhouseCoopers and BDO were charged with violating the Securities Exchange Act and the Sarbanes-Oxley Act, the SEC said on December 3.
The Sarbanes-Oxley Act requires foreign public accounting firms to provide the regulator with audit paperwork involving companies trading on U.S. markets.

The SEC did not reveal the names of the nine Chinese companies in connection with its charge.
An administrative judge will schedule a hearing and determine the appropriate "remedial sanction" against the firms, it said.

This is the latest:

Auditing Spat Dividing U.S. and China Turns Ugly
"It concerns national sovereignty and is against the (Chinese government's) secrecy law for foreign regulators to get China-based accounting firms' auditing papers as they wish," the official said. "We have different thinking on securities regulation" than the SEC. "China cannot give the U.S. the freedom to enter China and investigate wherever they want."
If there isn't a resolution, all the Chinese stocks on the U.S. exchanges may be forced to delist.

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