The Securities and Exchange Commission (SEC) is coming after 0 that are linked to stock scams coming out of China, according to a report from the Financial 1 SEC is going after businesses that may have helped, or been part of, shady trading tactics run by Chinese fraud 2 focus? Pump and dump schemes, dirty tricks where prices get pushed up using lies and hype, and then sold off at the 3 that happens, the stock 4 everyday investors get 5 SEC’s enforcement push is part of a larger campaign to stop market fraud that crosses national 6 tightens IPO rules to block weak China listings To make these China-connected frauds harder to pull off, Nasdaq is throwing new rules into the mix.
They’ve decided that anyone wanting to list on their exchange, especially if they operate mainly in China, better have at least $25 million in public offering 7 means no more listing sketchy micro-companies with nothing in the 8 your numbers don’t add up, you’re not getting 9 top of that, Nasdaq now demands that any company going public under the net income standard must also have at least $15 million in public float 10 rule helps keep garbage IPOs off the exchange. They’re also speeding up the process to suspend and delist companies that don’t meet listing standards and have a market value of listed securities under $5 million. Basically, Wall Street is cleaning 11 Zecca, the EVP and Chief Legal, Risk & Regulatory Officer at Nasdaq, said, “It provides a healthier liquidity profile for public investors, while still making emerging companies available to investors through our exchange.” He also made it clear: “Investor protection and market integrity are central to Nasdaq’s mission.” Nasdaq had submitted these new rules to the SEC for approval, which it just 12 already trying to list will get 30 days to finish using the old 13 that, it’s either comply with the new requirements or get 14 crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites
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