This is the best summary I could come up with:

WASHINGTON/NEW YORK, Sept 27 (Reuters) - U.S. financial firms are pushing for greater clarity on proposed new rules curbing U.S. investments in some China technology sectors which they say are too vague and put the onus of compliance on investors.

Aiming to protect national security and prevent U.S. capital from aiding China's military, President Joe Biden issued an executive order last month restricting new U.S. investments in sensitive Chinese technologies.

Among their key concerns: how the rules would apply to U.S. persons; which specific Chinese entities would be subject to the restrictions; and better defining a proposed exemption for publicly traded securities.

"The scope is pretty broad," said Timothy Keeler, a partner at law firm Mayer Brown, noting it applies to Chinese entities operating beyond China.

Former Securities and Exchange Commission chair Jay Clayton, now an adviser with law firm Sullivan & Cromwell, voiced this idea when he told a House of Representatives committee on China this month that "Wall Street responds very quickly" to lists of barred entities.

Financial firms say they support the administration's national security goals but worry about increased liability and the economic costs of restricting capital flows.

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