SEC warns Baidu to be delisted from US exchanges over audit data

Baidu BIDU $143.45 -2,94% Buy Weibo WB$24.92 -1.74% Buy JD.com JD $61.39 -1,9% Buy

The US Securities   and Exchange Commission ( SEC) has warned Baidu that it could delist the Chinese company from US stock exchanges if it fails to comply with audit requirements. This is reported by Business Insider.

The SEC has already added Baidu to a preliminary list of foreign companies that have not given U.S. authorities full access to their audit data. The list also includes Weibo and iQiyi, which have 15 days to challenge the SEC decision.

Companies that have been finally designated by the SEC will be required to comply with audit requirements by the US Public Accounting Oversight Board for three years.

The SEC decision exacerbated an ongoing dispute between US and Chinese regulators over access to audit data. Although CHINA has previously asked some US-listed companies, including Alibaba, Baidu and JD.com, to prepare to disclose additional audit information.

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