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ARTICLE · 04 AUGUST 2021

SEC Chair Issues Statement On Investor Protection Related To Developments In China

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On Friday, SEC Chair Gary Gensler issued a statement concerning investor protection related to recent developments in China.

ChinaAccounting and Audit
Alan Wilson
Alan Wilson
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On Friday, SEC Chair Gary Gensler issued a statement concerning investor protection related to recent developments in China. The statement summarizes risks to US investors as a result of recent government-led developments in China and outlines new requests to the SEC staff to seek certain disclosures with respect to these risks. The new directives to the SEC staff build on the November 2020 guidance issued by the Division of Corporation Finance – CF Disclosure Guidance: Topic No. 10, "Disclosure Considerations for China-Based Issuers" (Nov. 23, 2020).

Chair Gensler summarized that "the government of the People's Republic of China provided new guidance to and placed restrictions on China-based companies raising capital offshore, including through associated offshore shell companies. These developments include government-led cybersecurity reviews of certain companies raising capital through offshore entities." Most notably, Chair Gensler's statement focuses on the

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