The SEC requested comment on a Public Company Accounting Oversight Board proposed rule that would require disclosure as to whether an issuer's registered public accounting firm is located in a foreign jurisdiction that prevents the PCAOB from conducting audit inspections.
The SEC Office of Investor Education and Advocacy, Office of the Chief Accountant and Division of Corporation Finance warned investors of the risks associated with investments in U.S.-listed companies with operations in China.
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.