Peloni: Jay Solomon discusses the recent revelation about a 2013 Memorandum of Understanding(MOU) which was adopted in the US which oversaw Chinese companies having been given an exemption from Sarbanes-Oxley regulations, while still having access to US markets and NYSE. These regulations were adopted in the wake of the Enron collapse of the 1990’s and were intended to protect US investors from investing in companies pursuing fraudulent or dangerous business practices without public disclosure, and the costs incurred and disclosures required while complying with these regulations are quite extensive. This 2013 MOU, which gave Chinese companies a distinctly significant advantage over their US domestic competitors, was overseen by then VP Joe Biden, and it was signed just before Biden’s infamous trip with Hunter Biden to China where Hunter Biden was awarded with $1.5 billion investment fund from the Chinese govt.
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