How Wall Street Loopholes Funnel US Capital to Chinese Communist Party
11th May 2025
American investors are unwittingly funding Chinese Communist Party activities through Wall Street loopholes, according to a securities expert who recently testified before Congress.
Chris Iacovella, CEO of the American Securities Association, told The Daily Signal these activities include “the internment of Uyghurs, funding [People’s Liberation Army] weapons systems, a cyber army that relentlessly attacks this country, our businesses, and our people, as well as numerous other atrocities from a human rights perspective, including genocide.”
Iacovella testified in April at a joint House-Senate hearing on the CCP about loopholes that allow Chinese companies to access U.S. capital markets despite a Chinese prohibition on foreign ownership.