Two Dozen Republican state financial officers called on the Securities and Exchange Commission (SEC) to ban any foreign company that’s based in a country designated a U.S. adversary, namely China, from receiving Foreign Private Issuer status.
In a letter Friday obtained exclusively by Breitbart News, 24 Republican cosigners write that the change is needed now to protect U.S. investors and national security because most FPIs are now incorporated in the Cayman Islands and headquartered in China. Until recently, most FPIs were headquartered in Canada and the United Kingdom.
SEC — FPI Comment Letter by Breitbart News
The letter also calls for the…
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