ASA Applauds FTSE Russell Removal of Blacklisted Chinese Companies
It’s time for index providers and ETF issuers around the world to follow the LSEG’s lead.
WASHINGTON – The American Securities Association (ASA) today applauded a recent decision by the London Stock Exchange Group (LSEG) to protect investors by removing blacklisted Chinese companies from several of its FTSE Russell indexes.
“The Chinese Communist Party (CCP) has been using the passive index loophole to exploit the global capital markets and fund its military aspirations, human rights abuses, and destruction of the environment,” said ASA CEO Chris Iacovella. “ASA applauds the leadership of the LSEG for taking meaningful action to protect American investors and retirement savers by removing these blacklisted companies from its major indexes. It’s time for index providers and ETF issuers around the world to follow the LSEG’s lead and do their part to stop funneling money into these fraudulent and CCP-controlled companies.”
Last week, ASA hailed passage of the Holding Foreign Companies Accountable Act, a bill sponsored by Sens. Kennedy and Van Hollen to kick fraudulent Chinese companies off U.S. exchanges.
ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at http://americansecurities.org/.