The SEC absolutly must firm up the rules for listing Chinese companies on US exchanges. The SEC should additionally close the Cayman Island loophole that allows Chinese and other countries to register in the Cayman Islands to avoid full disclosure rules. The assupmtion that China requires full disclosure in their country is naieve at best, China has no such requirement. It is time to implement fair, equal rules across the board and stop providing special interests and the Chinese government exceptions and loopholes. We should delist the majority of Chinese companies until they can prove they are providing full disclosure as is required of US firms. US firms that have moved to the Cayman Islands to avoid taxes and disclosure rules should be delisted as well. Redefining FPI rules is the right thing to do and should be done immediately.