SEC Chairman Temporarily Suspends Chinese Companies From Going Public in the US by Way of Shell Companies

(Source: The Oofy) 

Bloomberg reported that, on August 16, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said in a video message that American investors knew very little about some Chinese companies listed on stock exchanges in the US. He has asked SEC staff to temporarily suspend IPOs of shell companies by Chinese companies, and…