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The China Securities Regulatory Commission plans to impose strict penalties on Tiger, Futu, and Changqiao according to the law
On May 22, the China Securities Regulatory Commission announced that the illegal cross-border operations of Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited violate China's securities, fund, and futures laws and regulations, disrupt market order, and must be firmly cracked down on.
According to relevant regulations, the CSRC intends to confiscate all illegal gains of Tiger, Futu, and Changqiao related entities both domestically and internationally, and impose severe penalties according to law.