North Indy News

U.S. Senator Todd Young has reached out to Securities and Exchange Commission (SEC) Chair Paul Atkins with concerns about the Chinese Communist Party's influence on global financial markets and its evasion of U.S. regulatory oversight. In his communication, Young urged the SEC to take additional measures to safeguard American markets, shareholders, and national security.

Senator Young stated in his letter, "As you get settled in your new role, I write to express my concern with the continued risk that Chinese companies traded in U.S. exchanges pose to American investors and fiduciaries. I encourage the SEC to explore additional options to protect American economic and national security interests from these companies."

Young highlighted issues such as a lack of transparency among Chinese firms listed on U.S. stock exchanges, poor corporate governance, fraudulent behaviors, and arbitrary enforcement actions by Chinese regulators. He emphasized that these corporations often do not have incentives to disclose their business practices due to more severe threats from Chinese agencies compared to U.S. regulators.

The senator also pointed out past inaction by the Biden Administration after he sent a similar letter on June 22, 2023, which addressed these concerns under the previous SEC chair appointed by President Biden.

Currently, there are 286 Chinese companies listed on major American stock exchanges like the New York Stock Exchange (NYSE), Nasdaq, or NYSE American with a combined market capitalization exceeding $1.1 trillion as of March 7, 2025.

Young's efforts aim at ensuring that American investors and businesses are protected against risks associated with malign activities attributed to the CCP which could potentially impact economic stability and national security.