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Futu Responds to New Cross-Border Securities Regulations in China: Users with Overseas Identities Unaffected

AirdropBlackHole
On May 25, Futu Securities (Hong Kong) issued a statement regarding recent regulatory matters: Recently, eight Chinese ministries released a rectification plan for cross-border securities business, which is an industry regulation aimed at institutions providing overseas securities and fund trading services to mainland investors, including all relevant brokerages, banks, and other financial institutions. Any institution claiming to be exempt from the new regulations of the eight ministries may be a scam, and users are advised to retain written communication as evidence to protect their assets in the future. The current mainland regulatory guidelines only apply to investors who 'hold only a mainland Chinese ID card or mainland passport, with no overseas identity.' If users hold any of the following overseas identification documents, they will not be affected, and their accounts and all trading services will operate normally: Hong Kong permanent resident ID; Hong Kong non-permanent resident ID (temporary ID); work visa/study visa; other valid overseas identification. Futu Securities (Hong Kong) stated that there are currently no detailed regulatory rules for the industry's two-year concentrated rectification period, and all user accounts and trading/fund services are functioning normally.
FUTU-27.71%
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