The U.S. Securities and Exchange Commission and the Commerce Department are investigating Boeing Co.’s relationship with a satellite startup backed by a Chinese government-owned firm, following an article by The Wall Street Journal on the matter last month. In a letter to the Los Angeles-based startup Global IP, the SEC requested that the company retain all documents about its work with Boeing and a number of other individuals and entities, including state-owned Chinese lender China Orient Asset Management Co. ...
The US Securities and Exchange Commission is investigating Boeing 's links to Los Angeles start - up Global IP , which is backed by Chinese lender China Orient Asset Management . The investigation followed a report in December by the Wall Street Journal about a contract between Global IP and Boeing to build a satellite , which it was said could later come under Chinese military control . US law prohibits the selling of satellites to China . Shortly after the news story was published , Boeing said it had scrapped the contract , and the Commerce Department ’s Bureau of Industry and Security revoked Boeing 's export licence .