On September 5, 2025, the U.S. Securities and Exchange Commission (SEC) announced the creation of the Cross-Border Task Force (“Task Force”) to identify and combat cross‑border fraud harming U.S. investors. The Task Force will primarily focus on investigating potential U.S. securities law violations related to foreign-based companies, such as market manipulation, and those gatekeepers, such as auditors and underwriters, which enable these companies to access U.S. capital markets. The SEC specifically called out “companies from foreign jurisdictions, such as China, where governmental control and other factors pose unique investor risks.”
Source: SEC Creates New Cross-Border Task Force to Combat Fraud, Prioritizing Investigations of Foreign Issuers and Gatekeepers