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After Futu Tiger Changqiao, Huasheng Securities, which was not “named,” will also clean up its mainland China business operations.

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Mars Finance News, June 6 — Following Futu, Tiger, and Changqiao, another cross-border brokerage has announced the cleanup of its existing mainland China business. Huasheng Securities issued a notice to clients on the morning of June 6, stating that starting from Beijing time June 15, Huasheng Securities will make corresponding adjustments to services for existing investor accounts in mainland China: First, in mainland China trading services: all new positions and additional trades for stocks and other products will be suspended, only sell and close positions operations will be supported; second, in mainland China fund transfer services: fund and securities transfers in and out will be suspended, but transfer out functions will remain normal. The notice indicates that this adjustment is to implement the regulatory requirements during the two-year concentrated rectification period, promote standardized development of cross-border securities business, and emphasizes that this adjustment will not affect the services provided to existing investors overseas, nor will it impact the safety of all clients’ current assets. Clients can still query their accounts, hold, and sell existing positions normally. This also means that, apart from the three brokerages directly "named" by the China Securities Regulatory Commission on May 22, some small and medium-sized brokerages will also begin rectifying their existing illegal businesses. (Yicai)
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