NYSE has earlier today published an updated guidance on NYSE Group actions to comply with Executive Order 13959.

Let’s note that Executive Order 13959 (“EO 13959”) prohibits, beginning at 9:30 a.m. eastern standard time on January 11, 2021, any transaction in publicly traded securities, or any securities that are derivative of, or are designated to provide investment exposure to, companies identified as a Communist Chinese Military Company (CCMC).

On January 5, 2021, the Department of Treasury’s Office of Foreign Asset Control (OFAC) provided additional, specific guidance to the NYSE stating that U.S. persons cannot engage in certain transactions (as specified in EO 13959) in the ADRs of China Telecom Corporation Limited (CHA), China Mobile Limited (CHL), and China Unicom (Hong Kong) Limited (CHU) after 9:30 a.m. eastern standard time on January 11, 2021.

Accordingly, NYSE Regulation has announced that it will move forward with delisting the three issuers that was initially announced on December 31, 2020 to comply with U.S. law. NYSE will suspend trading in these issuers at 4:00 a.m. eastern standard time on January 11, 2021.

The issuers have a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the these issuers and securities upon completion of all applicable procedures, including any appeal of the NYSE Regulation staff’s decision.