new York – Chinese companies wishing to sell their shares in the United States need to begin more disclosure of potential risks before US regulators allow their shares to be listed. The Securities and Exchange Commission announced the move on Friday after Beijing announced that it would strengthen the oversight of foreign-listed Chinese companies, including a review of cybersecurity. SEC Chairman Gary Gensler specifically pointed out Chinese companies that are using shell companies to circumvent Chinese rules that prevent foreign ownership in the industry. Under these transactions, Chinese companies form shell companies in the Cayman Islands or elsewhere. The Shell...