Compliancex

It appears to be dawning on officials at the U.S. Securities and Exchange Commission (SEC) that cooperative, cross-border financial investigations are completely foreign to China. Washington’s regulators have been trying since late 2010 to gather information that could help them probe fraud allegations involving so-called Chinese concept stocks listed on American exchanges. U.S. investors were burned after buying concept stocks, which hundreds of Chinese companies have floated in recent years through reverse-mergers that legally sidestepped SEC disclosure rules.

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