Keyuan Petrochemicals Inc , a China-based petrochemical company, agreed to pay US$1 million (HK$7.76 million) to settle securities fraud charges in the United States, as regulators have stepped up efforts after misconduct at US-listed Chinese companies.
The Securities and Exchange Commission accused the company, whose shares traded in the US through a so-called reverse merger, of failing to disclose to investors related-party transactions involving its chief executive and others. Reported by S.China Morning Post 1 hour ago.
The Securities and Exchange Commission accused the company, whose shares traded in the US through a so-called reverse merger, of failing to disclose to investors related-party transactions involving its chief executive and others. Reported by S.China Morning Post 1 hour ago.