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 challenges are mentioned regarding the compliance of Chinese companies with US auditing standards?

What role does the Public Company Accounting Oversight Board play in the context of the text?