China Securities Regulatory Commission and Eight Other Departments Launch Comprehensive Cleanup of Illegal Cross-Border Securities, Futures, and Fund Activities

On May 22, the China Securities Regulatory Commission, Ministry of Industry and Information Technology, Ministry of Public Security, People's Bank of China, and other 8 departments jointly issued the "Implementation Plan for the Comprehensive Cleanup of Illegal Cross-Border Securities, Futures, and Fund Activities,"明确将用 2 年时间集中整治非法跨境证券期货基金经营活动，目标是“坚决取缔非法、稳妥清理存量”。
The plan proposes to prohibit foreign institutions from illegally conducting marketing, account opening, trading instruction processing, and fund transfer activities within the country, prohibit internet platforms, self-media, and domestic entities from providing traffic diversion, technical, and customer support, and要求整治期内存量账户仅允许单向卖出和转出资金。