{"id":1954338,"date":"2023-06-22T15:30:02","date_gmt":"2023-06-22T19:30:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/young-raises-concerns-to-sec-about-americans-investing-in-china-based-companies\/"},"modified":"2023-06-22T15:30:43","modified_gmt":"2023-06-22T19:30:43","slug":"young-raises-concerns-to-sec-about-americans-investing-in-china-based-companies","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/young-raises-concerns-to-sec-about-americans-investing-in-china-based-companies\/","title":{"rendered":"Young expresses concerns to SEC about US investments in Chinese firms."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fyoung-raises-concerns-to-sec-about-americans-investing-in-china-based-companies%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1954338&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Sen. Todd Young Urges SEC to Protect American Investors from Chinese Companies<\/h2>\n<p>Sen. Todd Young (R-IN) has expressed his concerns about the potential risks faced by American investors from <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/young-raises-concerns-to-sec-about-americans-investing-in-china-based-companies\/\" title=\"Young expresses concerns to SEC about US investments in Chinese firms.\"><a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/stunning-reddit-shuts-down-wallstreetbets-subgroup-blames-racism-and-hate-speech-after-rookie-investors-in-general-public-make-money-causing-hedge-funds-to-go-bust\/\" title=\"STUNNING: Reddit Shuts Down WallStreetBets Subgroup \u2014 Blames Racism and Hate Speech \u2014 After Rookie Investors in General Public Make Money Causing Hedge Funds to Go Bust\">publicly traded companies<\/a> based<\/a> in China. In a letter to Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), Young emphasized the need for additional measures to safeguard traders and fiduciaries.<\/p>\n<p>Young highlighted the &#8220;chronic, often intentional, lack of transparency; <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/major-advertising-campaign-expected-ahead-of-bidens-first-veto\/\" title=\"Major advertising campaign expected ahead of Biden's first veto\">poor corporate governance<\/a> or fraudulent behaviors&#8221; exhibited by Chinese companies traded in the United States. He also warned about the possibility of &#8220;arbitrary or spurious&#8221; enforcement actions by Chinese regulators.<\/p>\n<h3>Protecting Military Readiness and National Security<\/h3>\n<p>These concerns are not only related to financial risks but also to the Chinese government&#8217;s manipulation of global financial markets and its ability to evade oversight by American regulators.<\/p>\n<p>&#8220;In addition, Chinese corporations are not incentivized to properly disclose their business practices because the enforcement options available to U.S. regulators pale in comparison to the punitive threat from state regulators in the [People&#8217;s Republic of China],&#8221; Young explained.<\/p>\n<p>Young provided examples of five companies that exemplify these concerns: iQiyi, Luckin Coffee, TAL Education Group, HNA Group, and Evergrande Group.<\/p>\n<p>&#8220;Generally, I am concerned that U.S. investors, especially passive investors in indexes and exchange-traded funds (ETFs), are still unaware of the risks posed to their investments by the mere presence of Chinese companies in their funds,&#8221; Young stated. He also emphasized the additional layer of risk posed by Chinese military and political aggression, including against Taiwan.<\/p>\n<p>Young&#8217;s concerns have been further heightened by the Chinese government&#8217;s request for these companies to switch from independent and regulated auditors to Chinese-based auditors, which he believes are &#8220;more susceptible to state influence and coercion.&#8221;<\/p>\n<p>As part of his efforts to improve transparency, Young posed a series of eight questions to Gensler regarding these publicly traded companies.<\/p>\n<p>&#8220;In light of these concerns, I believe that additional informational and regulatory actions by the SEC need to be on the table to protect American markets, shareholders, and our economic and national security,&#8221; Young concluded.<\/p>\n<p><strong><a href=\"https:\/\/www.washingtonexaminer.com\/\">Click here<\/a> to read more from The Washington Examiner.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sen. Todd Young (R-IN) penned a letter to Gary Gensler, SEC chairman, highlighting worries over American investors&#8217; vulnerability to Chinese-based publicly traded firms. Young urged the SEC to enhance safeguards for traders and fiduciaries against the &#8220;chronic, often unpredictable risks&#8221; associated with these companies.<\/p>\n","protected":false},"author":1,"featured_media":1954339,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1954338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1954338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1954338"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1954338\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1954339"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1954338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1954338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1954338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}