Business
SEC adds Alibaba to list of Chinese companies facing delisting
NEW YORK — The US Securities and Exchange Commission added on Friday Alibaba Group Holding on a list of Chinese companies at risk of being delisted from US exchanges if their auditors cannot be checked by the spring of 2024.
Under the Foreign Companies Accountability Act of 2020 — which goes into effect in 2021 — the United States can prohibit trading in the securities of companies that the U.S. audit watchdog cannot audit. auditors for three consecutive years.