ME News message: On May 22 (UTC+8), regarding the CSRC’s filing of a case for and its plan to impose administrative penalties on the relevant domestic and overseas entities of Changqiao Securities, Changqiao Securities responded that its licensed entities are regulated by the Hong Kong Securities and Futures Commission and other overseas regulators. Changqiao emphasized that client funds are completely segregated from the company’s operational funds and are kept in separate custodial bank accounts in accordance with regulatory requirements. The held US stocks and Hong Kong stocks are respectively custodied by the US Depository Trust & Clearing Corporation (DTCC) and Hong Kong Securities Clearing Company Limited (HKSCC), and are protected by the Hong Kong Investor Compensation Fund (ICF). At the same time, the company will strictly implement all rectification requirements and advance the relevant arrangements in accordance with laws and regulations. (Source: BlockBeats)

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WatercolorInAGlassBottle

· 4h ago

The Investor Compensation Fund is the last line of defense; usually, it still relies on individuals to identify and judge for themselves.

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NotYourExit

· 8h ago

Overseas regulatory endorsement ≠ domestic exemption from liability; this logic needs to be clarified.

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TvlTeaTime

· 8h ago

The difference between Hong Kong Stock Connect and direct account opening is now something more people need to understand.

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BluePeonyAlert

· 8h ago

Changqiao responded quickly, but an investigation filing is not a trivial matter.

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RetroRadioWaves

· 8h ago

This penalty signal is obvious; overseas brokers will have to reassess their compliance costs.

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GateUser-382715ed

· 8h ago

Customer fund segregation is standard; the key is whether there are any loopholes in the implementation.

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PurpleMistLily

· 8h ago

DTCC custody is the baseline, but domestic business expansion qualifications are the key.

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GateUser-0fdb3438

· 8h ago

Is holding a license in Hong Kong enough to rest easy? Let's see the subsequent rectification efforts.

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SushiRebalance

· 8h ago

Cross-border brokers are skilled at regulatory arbitrage, now both sides are starting to settle accounts.

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Changqiao Securities Responds: Will Strictly Implement All Rectification Requirements and Promote Related Arrangements in Compliance with Laws and Regulations

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