China will ban Internet brokers from providing overseas transaction services to mainland clients
People familiar with the matter said that out of concerns about data security and capital outflows, Chinese regulators plan to prohibit Internet brokers such as Futu Holdings and Tiger Securities from providing offshore trading services to mainland customers. The two Chinese companies listed on NASDAQ are the two largest companies in this field. The ban will prevent millions of retail investors in mainland China from trading conveniently in markets such as the United States and Hong Kong. One of the four sources said that the relevant company may receive a notice of the injunction in the "coming months."
Article excerpted from the US Stock Research Agency
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Vlastimil : Fake news just for shorties.. or probably HOOD envy of FUTU profitability.. also impact of potentially losing PRC customers was multiple times already count in the price as we dropped from 180 -> 39
娜娜的粉丝 : Last Friday already know this is fake news
101497119 : This news come out futu up 4%
102539156 Dan : Enough of these stupid news... break my last straw last frI... sold it as d news was really intimidating...
To only realised may be fake... some one fOr their own Selfish interest... do u know how many ppl invest Wanting to have a slightly better life...
Stop all these fxxk ing fake news!!!!
102379668 : Where is the link ?