U.S. SEC says Chinese IPO hopefuls must provide additional risk disclosures

U.S. SEC says Chinese IPO hopefuls must provide additional risk disclosures
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The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/

July 30 (Reuters) – The U.S. securities regulator will not allow Chinese companies to raise money in the United States unless they fully explain their legal structures and disclose the risk of Beijing interfering in their businesses, the agency said on Friday, confirming an exclusive report by Reuters.

In a statement, Securities and Exchange Commission Chair Gary Gensler said he had also asked staff to “engage in targeted additional reviews of filings for companies with significant China-based operations.”

The development underscores U.S. policymakers’ concerns that Chinese companies are systematically flouting U.S. rules that require…



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