China Bans Tiger, Futu, and Changqiao for Illegal Cross-Border Stock Trading

TLDR: The CSRC and eight departments launched a two-year plan to eliminate illegal cross-border brokerage services in China. Tiger Brokers, Futu Securities, and Changqiao Securities face full confiscation of illegal gains under Chinese securities law. Existing investors can only sell holdings during the rectification period; new buy transactions are fully prohibited by regulators. Legal channels [...]

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