ASA Statement on NYSE’s China Delisting Reversal

Once again Wall Street has chosen the Chinese Communist Party (CCP) over the economic and national security interests of the United States.

WASHINGTON – American Securities Association (ASA) CEO Chris Iacovella today released the following statement after the New York Stock Exchange reversed its decision to delist three Chinese telecom companies—that the Pentagon confirmed had ties to China’s military—after consulting with the Treasury Department’s Office of Foreign Assets Control:

“Once again Wall Street has chosen the Chinese Communist Party (CCP) over the economic and national security interests of the United States, leaving America’s mom-and-pop investors and hardworking retirement savers holding the bag. The Administration’s Executive Order, and bipartisan passage of the Holding Foreign Companies Accountable Act, made it crystal clear to Wall Street: stop exploiting American investors to finance the CCP’s cyber army, its human rights abuses, and its destruction of the environment. The American people deserve an explanation for this unthinkable reversal and the SEC should demand one.”

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