US increases disclosure requirements for foreign listings
The US Securities and Exchange Commission (SEC) has introduced rules that compel foreign companies seeking US listings to file their registration documents publicly. Previously, IPO documentation remained confidential until the issuers were ready to launch their deals. Domestic companies, meanwhile, had to disclose every change made to their prospectuses.
The new policy comes after a number of US-listed Chinese companies were found to have committed accounting fraud, prompting a loss of investor confidence in small to mid-cap China-based firms trading on...
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