IIUSA Executive Director, Peter D. Joseph, traveled to China earlier this month to discuss the Securities and Exchange Commission’s recent enforcement action against a Chicago based Regional Center and the possible implications it has on the future of the EB-5 Program. IIUSA is pleased to report a successful and productive trip abroad.
The warm welcome received from the Exit/Entry associations in all three Chinese cities for IIUSA, including Shanghai, Guangzhou, and Beijing was most appreciated. During the trip, IIUSA received positive media coverage, promoting the organization as well as the U.S. EB-5 Immigrant Investors Program as a whole. In an effort to subdue doubts among Chinese foreign investors and stakeholders regarding the EB-5 Program (which arose in the wake of the Chicago Convention Center case), Mr. Joseph stressed the fact that the U.S. securities laws are working efficiently and, if coupled with proper and thorough due diligence, are an effective method of preventing investments fraud.
As always, IIUSA is grateful for the warm hospitality extended by The American Chamber of Commerce in South China and for their being such gracious hosts. In particular we are thankful to Harley Seyedin for his leadership in our collaboration with his organization – assisting IIUSA with delivering the message of successful regional economic development through the EB-5 Program. Another special thanks to Chair of IIUSA’s International Committee, Kelvin Ma, for his tireless efforts for IIUSA in China – particularly on IIUSA’s recent trip to China to address market concerns that resulted from the recent enforcement action by the Securities and Exchange Commission against a Regional Center (nonmember of IIUSA).
With support from the American Chamber of Commerce, as well as the Exit/Entry associations, IIUSA was successful in promoting the EB-5 Program and advancing the message of progressive international investment as a means toward tangible economic development in the U.S. IIUSA is looking forward to working closely with our partners overseas in the future.