President Trump’s Working Group on Financial Markets, tasked with examining risks to investors posed by the Chinese companies listed on U.S. exchanges, today issued recommendations inspired by the Holding Foreign Companies Accountable Act. Sen. John Kennedy (R-La.) issued the following statement in response to the working group’s decision:
“We’re thankful the president’s working group is committed to holding fraudulent Chinese companies accountable. The SEC, CFTC, Treasury, Federal Reserve and entire Senate are on the same page. Now, it’s time for the House to enshrine this policy in law. Short of that, we cannot ensure that firms beholden to Communist China will let U.S. regulators examine their books, which means we can’t protect American retirement and college savings from being exploited,” said Kennedy.