New legislation passed in the US Senate will require companies to submit to an audit that can be reviewed by the PCAOB, and de-list firms that at noncompliant for three years.
May 22, 2020Nasdaq will put a minimum $25mn value on the size of IPOs, making it harder for some Chinese firms to pursue a listing. A delisting notice has been filed against Luckin Coffee.
May 20, 2020The company and 21 of its employees have also been fined for using false documents and transaction records to inflate cash positions.
May 17, 2020After decades of chasing the prestige of a US listing, Chinese companies can’t go private fast enough – here’s why.
May 1, 2020The CSRC has been communicating with US regulators, looking to deepen cross-border cooperation to combat misconduct and fraud and to protect investors.
April 29, 2020A lack of cross-border regulation presents a challenge to holding Luckin Coffee entities and executives to account for alleged misconduct and fraud.
April 26, 2020The chief operating officer of Nasdaq-listed Luckin Coffee, along with his employees, are said to have fabricated about $310mn worth of sales transactions.
April 6, 2020