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The Holding Foreign Companies Accountable Act (HFCA), if it is next passed by the U.S. House of Representatives and signed into law by President Trump, will have two main requirements:

First, foreign-owned companies (sponsors made it clear that the bill is aimed at Chinese companies, but the language captures stocks from any foreign issuer) must be able to prove that they are neither owned nor controlled by a foreign government.
Second, they must submit their financials for review by an American audit firm overseen by the U.S. Public Company Accounting Oversight Board, which is something that Chinese law does not currently permit.
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