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China Watch: Worries Heighten for US-Listed Chinese Companies as the SEC Escalates Accounting Dispute
MINYANVILLE ORIGINAL US-listed shares of Chinese companies had a start-of-the-week swoon after the Securities and Exchange Commission charged the Chinese affiliates of five major accounting firms including Deloitte KPMG PricewaterhouseCoopers BDO and Ernst & Young with violations of securities law saying that they had refused to hand over work papers of nine Chinese companies suspected of accounting fraud.   The likes of Baidu (NASDAQ:BIDU) Sina (NASDAQ:SINA) and New Oriental Education & Technology Group (NYSE:EDU) promptly fell after this piece of news broke.   The SEC and the Chinese Securities Regulatory Commission have been engaged in talks for months in ...
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