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Strictly punish illegal cross-border stock trading, Futu fined 1.8 billion
May 23, 2026
Severely punish illegal cross-border stock trading Futu fined 1.8 billion
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China Securities Regulatory Commission (CSRC) on Friday (22nd) once again took strong action against years of cross-border securities business rectification, jointly launching a remediation plan with 8 departments including the Central Bank. The goal is to "completely ban" illegal cross-border operations of foreign securities, futures, and fund management institutions within a two-year transition period, and to thoroughly expel them from the domestic market. The CSRC also announced that it has initiated investigations into the illegal domestic operations of Futu (FUTU), Tiger (TIGR), and Changqiao Securities, planning to confiscate the assets of the three brokerages within the country.
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