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Trump signs bill that could kick Chinese firms off US stock exchanges

Trump signs bill that could kick Chinese firms off US stock exchanges

FILE PHOTO: U.S. President Donald Trump departs on travel to West Point, New York from the South Lawn at the White House in Washington, U.S., December 12, 2020. REUTERS/Cheriss May/File Photo

WASHINGTON: President Donald Trump on Friday signed legislation that would kick Chinese companies off U.S. stock exchanges unless they adhere to American auditing standards, the White House said.

"The Holding Foreign Companies Accountable Act" bars securities of foreign companies from being listed on any U.S. exchange if they have failed to comply with the U.S. Public Accounting Oversight Board's audits for three years in a row.

(Reporting by Eric Beech; Editing by Chris Reese)

Source: Reuters

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