Hong Kong Securities and Futures Commission raises securities account opening standards; additional measures for mainland investors' account increases

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[Caixin] The China Securities Regulatory Commission announced strict investigations into Futu, Tiger, and Changqiao Securities for illegal cross-border business expansion. At the same time, the Hong Kong Securities and Futures Commission issued a circular requiring licensed securities firms and brokerages in Hong Kong to strengthen measures against forged documents and money laundering risks, improve account opening standards, and additionally propose three measures for mainland investor accounts.

In the circular issued by the Hong Kong Securities and Futures Commission on May 22, 2026, it stated that recent reviews of account opening procedures for 12 licensed securities brokerages identified multiple significant deficiencies: insufficient due diligence on account opening documents, acceptance of suspicious or forged documents during the account opening process, and inadequate due diligence and daily supervision in managing cross-border agency relationships with overseas intermediaries.

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