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Rubio, Casey Bill Aims to Curb Chinese IPOs Over Audit Rules

May 28, 2021, 9:17 PM

Chinese IPOs could be barred from the U.S. markets unless they comply with strict American audit rules, under a bipartisan bill introduced Thursday.

Republican Sen. Marco Rubio of Florida and Pennsylvania Democratic Sen. Bob Casey are sponsoring the bill, which would build on a law signed in December that threatens to delist Chinese firms from U.S. exchanges if they don’t hire an auditor that undergoes routine inspections by the Public Company Accounting Oversight Board.

The law, which passed with bipartisan support, gives firms three years to comply.

The new bill ...