3/30, 9:46 PM (Source: TeleTrader)
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SEC adds Baidu, Nocera, Futu Holdings to HFCAA list

The United States Securities and Exchange Commission (SEC) announced on Wednesday that it has added several, mostly Chinese, companies to its Holding Foreign Companies Accountable Act (HFCAA) provisional list.

The companies listed are Chinese internet giant Baidu Inc., Chinese seafood firm Nocera Inc., Beijing technology company Futu Holdings Ltd., Chinese entertainment business iQIYI, Inc. and the US-based biopharmaceutical giant CASI Pharmaceuticals Inc.

Through the HFCAA, the SEC seeks to identify public companies that have retained an accounting firm from performing an audit in its foreign office. If the company does not prove to the SEC it has been identified incorrectly within 15 business days, the regulator could halt any trading of its securities on the US stock markets.

Baha Breaking News (BBN) / SP