Big brother at it again.
I didnt realize that it was 600 firms. You wonder what non-compliance is it for these firms? But this isnt anything new, the SEC is acting like the FDA! Why suspend them, the sharesholders will do the job, if a shareholder wants to hold shares that the firm is in non-compliance, then so be it, and if the stock-chinese or not, then goes out of business that the risk. But leave it to this admin, to socialize everything. Thats why my post about a Romney win "may" be better for ebig.
As much as liberals don't like to sterotype, or the fact that it isnt every muslim, how can the SEC just put a ban on anymore chinese firms to list in the U.S., China will then do it for U.S companies to list in the China!
Now the rules that the U.S have in place to go public, thats a different item in my opinion, if the chinese don't want to follow those rules then they don't get approved to trade in the U.S..The piece of this puzzle that i have mentioned before is that the SEC or Dodd-frank bill is putting the liability on a 3rd party (market maker) if they trade a small otcbb stock. Its that liability that is slowing down the approval process of the "dtc" either slowing it down or having the 3rd party saying "no" to a certain listing (chinese) that they dont want to be liable for them complying!
On a side note you have the NIA (National inflation assoc) that is in a pump and dump scam, the SEC knows about it and still doesnt do anything about it...lol
