Caixin
Mar 31, 2022 06:23 AM
BUSINESS

Baidu Added to List of Stocks Facing Delisting in U.S.

The Securities and Exchange Commission added China’s Baidu to the list of stocks that may be kicked off U.S. exchanges for violating audit oversight requirements.
The Securities and Exchange Commission added China’s Baidu to the list of stocks that may be kicked off U.S. exchanges for violating audit oversight requirements.

(Bloomberg) — The U.S. Securities and Exchange Commission added Baidu Inc. Wednesday to a growing list of Chinese companies that may get kicked off American stock exchanges because of Beijing’s refusal to permit U.S. officials to review their auditors’ work.

The SEC’s publication of the businesses’ names is required under a 2020 U.S. law that started a three-year clock for businesses to comply with inspection requirements covering all public companies in the U.S. The SEC also added Futu Holdings Ltd., Nocera Inc., iQiyi Inc. and CASI Pharmaceuticals Inc. to its provisional list for possible delisting.

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