The SEC published in the Federal Register an interim final rule amending Forms 20-F, 40-F, 10-K and N-CSR for registrants required to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.
The SEC adopted interim final amendments to certain annual reporting forms. The amendments apply to registrants that have to comply with disclosure and submission requirements under the Holding Foreign Companies Accountable Act.
A China-based coffee company settled SEC charges for materially misstating revenue, expenses and net operating losses in order to give investors the false impression of rapid growth and increased profitability, and to satisfy earnings estimates.
A direct selling company headquartered in California settled DOJ and SEC charges for violating the Foreign Corrupt Practices Act by bribing Chinese government officials. The company sells health and personal care products in over 90 countries.
The President's Working Group on Financial Markets made several recommendations to the SEC addressing the Public Company Accounting Oversight Board's lack of access to auditors of Chinese companies listed in the United States.