Published: Sat, February 17, 2018
Economy | By

SEC Blocks Chicago Stock Exchange Sale

SEC Blocks Chicago Stock Exchange Sale

The SEC said that during its review, it was unable to obtain all the information it needed from the Chinese-led group of investors, including details about how some of the entities involved in the deal were funded. "Accordingly, it is not necessary for us to consider either the relevance of such foreign investment concerns to our statutory review of this proposed rule change or the merits of the concerns themselves". On the campaign trail, Donald Trump repeatedly cited the transaction as a sign of America's declining competitiveness.

Casin has previously said that it saw much potential in the CHX and that its goal for the long term was listing companies from China in the US on its bourse. They are taking our wealth.

"We must continue to be vigilant, with thorough oversight, to prevent the highly-coordinated and strategic efforts of the Communist Chinese government to threaten our national security through malicious business investments", Republican Congressman Robert Pittenger said in a statement on the issue.

Previously, Sen. Joe Manchin (D-WV) had in a Breitbart News exclusive called on the Trump SEC to block this sale.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. The regulator said this "raises significant doubts" that it would be able to monitor the exchange if the deal went through.

United States politicians who had opposed the stock exchange deal said they applauded the decision. "As we continue to employ the greatest lengths of diplomacy to shore up our relationship with China, we must not forget their desire to emerge on top of the worldwide market as the sole global power".

The top USA regulator of the financial markets has blocked the sale of the Chicago Stock Exchange (CHX) to a Chinese-led investor group due to concerns over the would-be buyers' ability to supervise the bourse after the deal.

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