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Will be severely punished! Futu Holdings' US stocks plunge over 40% in pre-market, company responds
In terms of news, the China Securities Regulatory Commission announced that illegal cross-border business activities by Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Cheung Chiu 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 plans to confiscate all illegal gains of Tiger, Futu, and Cheung Chiu related entities both domestically and internationally, and impose severe penalties in accordance with the law.
In response, a reporter from 21st Century Business Herald called Futu Holdings as a client, and the company's receptionist stated that the company has already paid attention to the relevant regulatory developments, is carefully studying the related content, and will make a unified response once the information is complete.
Currently, the company's business operations are normal, and clients' account assets and various services are unaffected. (21st Century Business Herald)