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U.S.-listed Chinese companies must disclose government interference risks -SEC official
Reuters | Jul 26, 2021 08:49 PM EDT
Commissioner Allison Lee participates in a U.S Securities and Exchange Commission open meeting to propose changing its decades-old definition of an accredited investor (Photo : REUTERS/Erin Scott)
Chinese companies listed on U.S. stock exchanges must disclose the risks of the Chinese government interfering in their businesses as part of their regular reporting obligations, a top U.S. Securities and Exchange Commission official said on Monday.
Democratic commissioner Allison Lee s comments are the first by an SEC official since Chinese regulators launched a massive cyber probe of ride-hailing giant Didi Global last week, just days after its $4.4 billion New York listing, wiping 25% off its share price.