U.S. Listed Chinese Companies Have Two Years to Open Books: Gensler

The transcript discusses the differences in accounting oversight between American companies and those from China and Hong Kong, highlighting the Sarbanes-Oxley Act's role in ensuring financial transparency. It explains that while most global jurisdictions comply with these standards, China and Hong Kong do not. Consequently, Congress has set a deadline for these companies to comply or face trading suspensions in U.S. markets.

Who were the key political figures involved in the creation of the Sarbanes-Oxley Act?

What was the basic bargain established by the Sarbanes-Oxley Act regarding financial audits?

Which two jurisdictions have not allowed their auditing practices to be inspected?

What action did Congress take regarding companies from China and Hong Kong in relation to U.S. markets?

What was the duration of the clock set by Congress for resolving auditing issues with China-related companies?