SEC Takes Aim at Chinese Pump-and-Dump Schemes: Targeting Professional Service Providers

The U.S. Securities and Exchange Commission (SEC) has launched a major crackdown against American firms suspected of being involved in cross-border securities fraud schemes originating from China. The agency is focusing on professional services providers, like accountants, consultants, and legal firms, who may have played a role in facilitating these fraudulent activities by giving legitimacy to questionable listings and helping them meet U.S. compliance standards.