REGULATORY UPDATES
SEC Leadership Changes
On April 14, 2021, the U.S. Senate voted to approve President Biden’s nomination of Gary Gensler as Chairman of the Securities and Exchange Commission (the “SEC”) through June 5, 2021. The vote came after the Senate Banking Committee endorsed Gensler’s nomination in March 2021. The confirmation only approves Gensler to serve the remainder of former SEC Chairman Jay Clayton’s term, though the Senate Banking Committee has cleared Gensler to serve another five-year term afterward. Gensler served as chairman of the U.S. Commodity Futures Trading Commission from 2009 to 2014, and helped to draft the Sarbanes-Oxley Act as senior advisor to U.S. Senator Paul Sarbanes. In a statement, the SEC’s four commissioners said they welcome Gensler “and look forward to working together to execute our vital mission.”
How This Chinese Vaping Billionaire Became One Of The World s Richest Women In Three Years forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
How This Chinese Vaping Billionaire Became One Of The Worldâs Richest Women In Three Years
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Kate Wang, 39, jumped into the ranks of the worldâs richest when her vaping company RLX went public on the New York Stock Exchange in January. Now the Procter & Gamble and Uber veteran faces looming threats from Chinese regulators and skeptical investors.
In a period of 55 hours starting on the morning of March 22, shares in Chinese vaping company RLX Technology collapsed 54%, slashing more than $16 billion from the startupâs market cap. The slump continued through the week as investors sold on the news of a potential industry crackdown by Chinaâs tobacco regulator and the Securities and Exchange Commissionâs announcement that it would start enforcing a law to require Chinese listed companies to provide audits or risk being delisted.
US blacklists seven Chinese supercomputer centres over weapons concerns ANI | Updated: Apr 09, 2021 21:22 IST
Washington DC [US], April 9 (ANI): The United States on Thursday restricted trade with top Chinese supercomputing centres, as these capabilities can be used for the development of modern weapons and national security systems. Commerce implements new export controls on China, adding 7 Chinese entities to the Entity List in response to their involvement with China s military, its destabilizing military modernization efforts, and/or its weapons of mass destruction (WMD) program, US Department of Commerce tweeted.
The seven centres were put on the US government s entity list, which means they require special permission for exports and imports from the United States, South China Morning Post reported.
US blacklists seven Chinese supercomputer centres oklahomacitysun.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from oklahomacitysun.com Daily Mail and Mail on Sunday newspapers.