China cracks down on Tiger, Futu and Long Bridge for illegal cross-border stock trading
China’s securities regulator has penalised Tiger Brokers and Futu Securities International for illegally offering domestic investors access to overseas securities trading, in a move to clean up market misconduct and crack down on illicit outflows that may threaten financial stability. The two brokerages, along with Long Bridge Securities, would have their ill-gotten gains confiscated and face further punishments, the China Securities Regulatory Commission (CSRC) said in a sta
China's securities regulator has taken action against Tiger Brokers and Futu Securities International for providing illegal access to overseas stock trading for domestic investors. The China Securities Regulatory Commission (CSRC) announced that these firms, along with Long Bridge Securities, will have illicit profits confiscated and face additional penalties. This crackdown aims to curb market misconduct and prevent unauthorized capital outflows that could jeopardize financial stability.
This regulatory action highlights China's efforts to control cross-border capital flows and maintain financial market integrity.
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