05:20:41 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Globe/wire say SEC decides against CHX sale to Chinese

2018-02-20 08:17 ET - In the News

The Globe and Mail reports in its Saturday edition that U.S. regulators on Thursday killed the politically sensitive sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors, saying a lack of information on the would-be buyers threatened the ability to properly monitor the exchange after the deal. A Reuters dispatch to The Globe says that the move by the Securities and Exchange Commission ends a two-year battle to gain approval for the sale and underscores the more hostile environment facing Chinese buyers under the administration of President Donald Trump. Mr. Trump brought the CHX deal up twice during the election campaign as an example of how jobs and wealth were leaving the United States. SEC staff initially approved the sale of the privately owned exchange in August, but within minutes of the announcement SEC commissioners, led by chairman Jay Clayton, a Trump appointee, put the decision on hold for further review. U.S. lawmakers from both parties had harshly criticized the deal in joint letters to the SEC, arguing that it would give the Chinese government access to U.S. financial markets and questioning the SEC's ability to regulate and monitor foreign owners.

© 2024 Canjex Publishing Ltd. All rights reserved.