A sign of the China Securities Regulatory Commission (CSRC) at its headquarters in Beijing on Nov. 16, 2020. VCG via Getty Images
China’s securities regulator has opened enforcement actions against Futu, Tiger Brokers, and Longbridge Securities, accusing the offshore online brokerages of illegally serving mainland investors who used the platforms to trade U.S. and Hong Kong stocks.
The China Securities Regulatory Commission (CSRC) said on May 22 that it had opened investigations and issued administrative penalty pre-notification letters against Tiger Brokers (NZ) Ltd., Futu Securities International (Hong Kong) Ltd., Longbridge Securities (Hong Kong) Ltd., and their related onshore and offshore entities.
