SEC to Demand More Info From Chinese Firms Seeking to Go Public
Gary Gensler
Photographer: Andrew Harrer/Bloomberg
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The Securities and Exchange Commission is demanding additional disclosures from Chinese firms before signing off on their bids to go public.
SEC Chairman Gary Gensler said on Friday that the agency’s staff will have to ensure that Chinese firms seeking to list in the U.S. have received permission from China’s government to do so if necessary, and that U.S. regulators would be able to inspect their audit records within three years, as required by law.