China’s securities regulator has initiated enforcement actions against offshore online brokerages including Futu, Tiger Brokers, and Longbridge Securities for serving mainland investors illegally through their platforms for trading U.S. and Hong Kong stocks. The China Securities Regulatory Commission (CSRC) announced investigations and administrative penalties against Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Longbridge Securities (Hong Kong) Limited, along with their related entities. The regulator accused these firms of conducting unauthorized securities brokerage and margin-financing services in mainland China, in addition to engaging in ‘illegal’ public-fund sales and futures brokerage activities. This action is part of a…
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