Recently, eight ministries jointly issued the “Implementation Plan for Comprehensive Regulation and Rectification of Illegal Cross-Border Securities, Futures, and Fund Business Activities,” proposing a two-year centralized rectification campaign to comprehensively crack down on and shut down overseas institutions’ illegal cross-border operations, and to properly and prudently clear out existing holdings. The targets include overseas institutions, domestic assisting parties, illegal intermediaries, and related online platforms. Measures include prohibiting carrying out such activities in China, including marketing of this type of business, account opening, transaction handling, and fund transfers. During the period for existing holdings, it is prohibited to provide services such as allowing existing investors to buy in or transfer in; only one-way selling is permitted, along with transferring out of funds.

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2026-05-22 13:19:51

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Golden Finance reports that on May 22, recently, with the approval of the State Council, the China Securities Regulatory Commission, the Ministry of Industry and Information Technology, the Public Security Ministry, the People's Bank of China, the Market Supervision Administration, the Financial Regulatory Administration, the Cyberspace Administration of China, and the State Administration of Foreign Exchange jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Activities" (hereinafter referred to as the "Rectification Plan").
The overall requirement of the "Rectification Plan" is to conduct a two-year concentrated rectification, fully ban illegal cross-border operations of overseas securities, futures, and fund institutions (hereinafter referred to as "overseas institutions"), and achieve the goal of "resolutely banning illegal activities and prudently clearing existing stock."
First, the rectification targets include overseas institutions illegally engaging in cross-border securities, futures, and fund businesses, domestic related or cooperative entities assisting overseas institutions in illegal cross-border operations, illegal intermediaries soliciting domestic investors, internet platforms and online media publishing illegal or violating information.
Second, measures to ban illegal cross-border activities include prohibiting overseas institutions from conducting marketing and solicitation activities related to securities, futures, and fund businesses within the country, providing related account opening services, processing trading instructions, and fund transfers.
Third, measures to clean up illegal existing businesses include setting a concentrated rectification period of two years, during which overseas institutions are prohibited from providing illegal buy-in transactions, fund transfers, and other services for existing investors within the country, allowing only one-way sell transactions and fund transfers out.

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The China Securities Regulatory Commission and seven other departments jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Activities"

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