Jul. 07, 2020
Dear SEC, Thank you for the opportunity to comment and bring this matter up to the attention of the commission. Especially after the Fiasco of Luckin Coffee and so many other fraudulent stocks listed on US exchanges for companies in mainland China, I think it is an egregious error not to compel those companies to undergo the same rigorous accounting that we expect of all other public companies listed on our exchanges. As reported by Reuters, (link: https://www.reuters.com/article/us-china-shortsellers/special-report-chinese-stock-scams-are-the-latest-u-s-import-idUSTRE74A71F20110511) This situation has created a regulatory void that companies have been exploiting to fleece american investors. So, in a nutshell: - Beijing has barred America’s PCAOB, established under Sarbanes-Oxley, from reviewing China-based accounting firms. - Chinese Firms face no real criminal penalties for fleecing non-china investors - It makes little logical sense for these companies to be listed on US exchanges - There is a regulatory void where no one really has oversight in these companies. - It seems that the "main street" investor will continue to get shellacked and lose money by these Chinese companies. Please discuss this matter at the upcoming SEC Staff Roundtable on Emerging Markets, and protect the investors in US equities, who rely on the SEC to monitor the markets and safeguard them from frauds and cons, and take steps to protect investors. Thank you, Rabbi Issamar Ginzberg Strategic Advice and Marketing Guidance to Companies and Entrepreneurs Worldwide Web: www.RabbiIssamar.com ••••