Following Luckin Coffee scandal, Nasdaq ready to tighten rules on IPO listings

TechCrunch | May 19, 2020 at 7:19 AM
  • Chinese stocks have seen the highest highs and the lowest lows in recent weeks.
  • And then overnight, Muddy Waters, the same research firm that first brought potential fraud at Luckin Coffee to light, released a new report on GSX Techedu indicating potential fraud, accusations which were denied by the education company.
  • In new filings with the SEC, Nasdaq proposed amending its ruled to allow for tighter listing standards for companies based in a jurisdiction “that has secrecy laws, blocking statutes, national security laws, or other laws or regulations restricting access to information by regulators of U.S. listed companies”.