$Futu Holdings Ltd (FUTU.US)$ Futu Slumps 25% After CSRC Ask...

$Futu Holdings Ltd (FUTU.US)$ Futu Slumps 25% After CSRC Asks to Correct ‘Illegal Acts’By Bloomberg News(Bloomberg) -- (Adds share price)China Securities Regulatory Commission will ask Futu Holdings and UP Fintech Holding to correct illegal acts in cross-border securities business, according to a statement from the regulator. Futu shares fall 25% in premarket trading.The brokerages are told to stop taking in new onshore investors as customers or opening new accounts for themExisting onshore clients can still trade via the brokerages, while additional fund transfer via non-compliant channels to their accounts will be banned