Money
China discusses allowing SEC probes
Updated: 2011-07-06 15:37
(Agencies)
Chinese officials and US will meet next week to discuss giving American securities regulators the right to investigate companies within China for the first time, Bloomberg reported Wednesday citing officials.
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China-Biotics Inc (CHBT) and Heli Electronics Corp (HELI) are among dozens of companies traded in the US that have disclosed auditor resignations or accounting irregularities this year, leading to the suspension or delisting of their shares. Some of the SEC's previous investigations of such companies have been stalled by the inability to gather information in China.
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