The SEC is looking into nine Chinese companies. They're demanding that their accountants turn over information. Chinese law makes this illegal. If you want to understand the relationship between the Party and major Chinese companies, I suggest you read The Party.
The SEC won't name the 9 companies being investigated. Not that it matters. If the accountant loses there certification, then the companies they vouched for get delisted. This isn't my normal reading material, so forgive the lack of jargon. I'm not sure if all the stocks they vouch for get delisted or what.
In any case, I got out of bed because I was reading The Big Short and I wanted to take a look at some options chains. That's how I came across this bit of news.
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