Chinese Stocks On Watch after SEC Charges Affiliates of Big Four Accounting Firms
Tweet Send to a FriendGet Alerts FMCN Hot Sheet
Trade FMCN Now!
China stocks are in focus after the SEC began administrative proceedings against the China affiliates of each of the Big Four accounting firms and another large U.S. accounting firm for refusing to produce audit work papers and other documents related to China-based companies under investigation by the SEC for potential accounting fraud against U.S. investors.
The SEC charged the following firms with violating the Securities Exchange Act and the Sarbanes-Oxley Act, which requires foreign public accounting firms to provide the SEC upon request with audit work papers involving any company trading on U.S. markets:
BDO China Dahua Co. Ltd
Deloitte Touche Tohmatsu Certified Public Accountants Ltd
Ernst & Young Hua Ming LLP
KPMG Huazhen (Special General Partnership)
PricewaterhouseCoopers Zhong Tian CPAs Limited
China stocks to watch:
Focus Media Holding Ltd. (NASDAQ: FMCN), New Oriental Education & Technology Group (NYSE: EDU), Fushi Copperweld, Inc. (NASDAQ: FSIN), Qihoo 360 Technology Co. Ltd (Nasdaq: QIHU), E-Commerce China Dangdang Inc. (Nasdaq: DANG), Youku Inc. (Nasdaq: YOKU), Tudou Holdings (Nasdaq: TUDO), Renren (NYSE: RENN), Baidu (Nasdaq: BIDU), Sohu.com (Nasdaq: SOHU), SINA Corp. (Nasdaq: SINA).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The SEC charged the following firms with violating the Securities Exchange Act and the Sarbanes-Oxley Act, which requires foreign public accounting firms to provide the SEC upon request with audit work papers involving any company trading on U.S. markets:
China stocks to watch:
Focus Media Holding Ltd. (NASDAQ: FMCN), New Oriental Education & Technology Group (NYSE: EDU), Fushi Copperweld, Inc. (NASDAQ: FSIN), Qihoo 360 Technology Co. Ltd (Nasdaq: QIHU), E-Commerce China Dangdang Inc. (Nasdaq: DANG), Youku Inc. (Nasdaq: YOKU), Tudou Holdings (Nasdaq: TUDO), Renren (NYSE: RENN), Baidu (Nasdaq: BIDU), Sohu.com (Nasdaq: SOHU), SINA Corp. (Nasdaq: SINA).
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Tesla (TSLA) Ramps Higher (GM)
- Biodel (BIOD) Lifts Following Pump Article
- Merck (MRK) Oct. Call Options See Massive Volume Spike
Create E-mail Alert Related Categories
Trader Talk
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
