Baidu Joins SEC List of Firms Facing Possible Delisting

The video discusses the potential delisting of companies that fail to comply with the SEC's audit requirements under the Holding Foreign Companies Accountable Act. Companies like Baidu and Futu Holdings have been added to a provisional list and must respond within 15 business days. The earliest potential delisting could occur in 2024, but legislative actions might expedite this. SEC Chairman Gary Gensler emphasizes limited room for compromise, highlighting ongoing US-China discussions. The situation remains tense as companies decide their next steps.

What did Gary Gensler say about the potential for a deal between the US and China regarding audits?

What could happen to many companies if the situation remains unchanged in two years?