id	author	title	date	pages	extension	mime	words	sentence	flesch	summary	cache	txt
cblr-10945	Mainous, Ryan W.	The SEC’s VIE Problem: Why the Agency’s Approach Contradicts Its Rhetoric	2023	31	.pdf	application/pdf	9743	427	49	61 Id. 62 Sutter, supra note 9 (“VIE arrangements appear to have no definitive legal standing in China, which may leave U.S. investors without recourse.”). THE SEC’S VIE PROBLEM 1079 Accountable Act (“HFCAA”).83 In principle, the PCAOB should oversee the audits for all companies listed in the United States;84 however, the Chinese government has prohibited the PCAOB from inspecting auditors based in China and Hong Kong.85 Because the PCAOB is unable “to confirm the financial health of U.S.-listed Chinese firms,” Congress felt that U.S. investors in those firms may be exposed to material risks.86 As such, Congress passed the HFCAA last year, which will prohibit trading in an issuer’s stock if a foreign jurisdiction prevents the PCAOB from “inspecting the company’s audit firm for three consecutive years.	cache/cblr-10945.pdf	txt/cblr-10945.txt