US-Listed Chinese Companies Must Disclose Government Interference Risks–SEC Official

US-Listed Chinese Companies Must Disclose Government Interference Risks–SEC Official
Commissioner Allison Lee participates in a U.S Securities and Exchange Commission open meeting in Washington, U.S., December 18, 2019. Erin Scott/File Photo/Reuters
The Associated Press
Updated:

WASHINGTON—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 (SEC) official said on July 26.

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 Inc. last week, just days after its $4.4 billion New York listing, wiping 25 percent off its share price.