Alibaba Runs Afoul of Regulators, Could Face Delisting From NYSE

The US has added Alibaba to a list of companies that could face delisting from the NYSE over audit concerns....
Alibaba Runs Afoul of Regulators, Could Face Delisting From NYSE
Written by Matt Milano

The US has added Alibaba to a list of companies that could face delisting from the NYSE over audit concerns.

The US has been cracking down on Chinese firms, especially those whose finances cannot be properly audited. Alibaba is the latest to run afoul of US regulators, according to The Register, and is now on the 2020 Holding Foreign Companies Accountable Act (HFCAA) list.

As the report goes on to highlight, being on the HFCAA list doesn’t automatically lead to delisting. Alibaba’s addition to the list merely means it had its first “non-inspection” year. For delisting to occur, the company would need to file two more consecutive annual reports that are not compliant.

Alibaba issued the following statement to the SEC:

Alibaba will continue to monitor market developments, comply with applicable laws and regulations and strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange.

Subscribe for Updates

ChinaRevolutionUpdate Newsletter

ChinaRevolutionUpdate

By signing up for our newsletter you agree to receive content related to ientry.com / webpronews.com and our affiliate partners. For additional information refer to our terms of service.
Get the WebProNews newsletter delivered to your inbox

Get the free daily newsletter read by decision makers

Subscribe
Advertise with Us

Ready to get started?

Get our media kit