Pompeo: Nasdaq move on listing important given pattern of ‘fraudulent’ accounting practices by China-based firms – Reuters

US Secretary of State Pompeo has said that the Nasdaq move on listing rules particularly important given pattern of ‘fraudulent’ accounting practices by China-based firms according to reports by Reuters.

Key comments

Pompeo says US investors should not be subjected to hidden and undue risk from companies that do not abide by same rules as US firms.

Pompeo says Nasdaq action should serve as a model for other exchanges in united states and around the world.

Market implications

There has not been an immediate reaction to the headlines although they will go to serve the trade war narrative which is starting to become more prominent in markets again towards the end of the week. 

• USD/CHF bearish trend gathers pace, energised on hard fundamentals