The agency has been under intense pressure from U.S. auditing standards and improve the governance of companies held closely by founders. regulators against corporate China, which has frustrated Wall Street for years with its reluctance to submit to U.S. rules that require public companies to disclose to investors a range of potential risks to their financial performance. policymakers’ concerns that Chinese companies are systematically flouting U.S. It followed up with crackdowns on technology and private education companies, some of which are also listed in the US. The move follows China’s clampdown on ride-hailing giant Didi Global just days after it listed in New York last month, prompting a steep selloff. He added that in light of Beijing’s recent crackdown on overseas listings, the SEC would seek additional disclosures from Chinese companies before making their registrations effective. Securities and Exchange Commission staff have been asked to “engage in targeted additional reviews of filings for companies with significant China-based operations, ” Chair Gary Gensler said in a statement. securities regulator will not allow Chinese companies to raise money in the United States unless they explain their legal structures and disclose the risk of Beijing interfering in their businesses, the agency said on Friday. No major US IPO of a Chinese company is in the works.SEC wants firms to reveal risks of Beijing interference.
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