Gensler Says China Needs to Play by the Rules

The video discusses the compliance issues of China-based issuers in the US capital markets, focusing on the Sarbanes-Oxley Act established after major bankruptcies like Enron. Despite 20 years since its implementation, China and Hong Kong have not fully complied with these regulations. The video highlights the importance of these rules for accessing US capital markets and the ongoing discussions about future compliance, emphasizing the role of the Public Company Accounting Oversight Board in ensuring transparency and protecting American investors.

What is the fundamental requirement for issuing stock in the US?

• Being audited by an accounting firm

• Having a local office in the US

• Hiring a US-based CEO

• Paying a fee to the US government

Which act was established after major bankruptcies like Enron?

• Dodd-Frank Act

• Gramm-Leach-Bliley Act

• Sarbanes-Oxley Act

• Glass-Steagall Act

How many countries comply with the US capital market regulations?

• 54

• 52

• 56

• 50

Which regions have not complied with the US auditing regulations?

• India and Singapore

• Brazil and Mexico

• China and Hong Kong

• Japan and South Korea

What is the role of the Public Company Accounting Oversight Board?

• To set interest rates

• To regulate banking operations

• To conduct full investigations and inspections

• To manage stock exchanges