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A new report alleges JPMorgan Chase and Bank of America underwrote CATL’s Hong Kong IPO.
JPMorgan Chase and Bank of America underwrote CATL’s IPO after its Pentagon military company designation.
KEY POINTS
- Banks accepted CATL’s claims of no military ties despite Pentagon conclusions and incomplete due diligence.
- Current law allowed U.S. banks to raise billions for CATL despite national security designations.
- The committee recommends bans on underwriting stock for blacklisted Chinese firms and stronger sanctions.
COMPANIES
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