$Alibaba (BABA.US)$ Where did the happy young man go?

$Block (SQ.US)$ Everyone is avoiding financial report risks. They said. $Visa (V.US)$And $MasterCard (MA.US)$If they have a bad financial report, yours must be bad too. Will you dare to present a good financial report and show them?

$Bed Bath & Beyond Inc (BBBY.US)$ We are waiting to go to the moon.Keep it up.

$Futu Holdings Ltd (FUTU.US)$
Several policy considerations on Futu Tiger issues
1. Problem classification:
Overseas financial institutions coming to the mainland to carry out financial activities without obtaining the approval of Chinese regulatory institutions such as the China Securities Regulatory Commission is considered illegal financial activity.
This logically conforms to regulatory thinking. According to the principle of regulatory jurisdiction, although Futu is registered overseas, more than half of its users are mainland residents, so domestic regulatory institutions have the right to oversee it.
2. Futu's response:
The company is licensed and operated locally in Hong Kong, Singapore, and the United States, in compliance with local financial regulatory requirements and there is no closure problem.
Admitting that the license is overseas and has not obtained a license in mainland China corresponds to the current regulatory focus.
Why did Sun Tianqi open fire on cross-border brokerages?
Sun Tianqi single-handedly eliminated internet deposits last year. From the final policy perspective, Sun is a practical type and takes action when necessary. This has established the regulation that no internet platform can act as a proxy for bank deposit products.
Who is Sun Tianqi? He is the Director of the Financial Stability Bureau of the Central Bank.
The responsibilities of the Financial Stability Bureau include: comprehensive analysis and evaluation of systemic financial risks, proposing policy recommendations for preventing and resolving systemic financial risks; assessing the impact of major financial mergers and acquisitions on national financial security and making policy recommendations; undertaking the research and formulation of regulatory rules for financial holding companies and standards and norms for cross-sector financial business in coordination with relevant parties; responsible for monitoring financial holding companies and cross-sector financial instruments; undertaking the demonstration and review of restructuring plans for financial enterprises involving the use of central bank's ultimate payment methods; managing assets related to financial risk disposal or financial restructuring by the People's Bank of China; undertaking the inspection and supervision of the use of central bank funds by institutions involved in resolving financial risks and participating in the liquidation or restructuring of market exit by relevant institutions.
What is the biggest problem for cross-border brokerages? The massive outflow of foreign exchange on the resident side, depleting our country's foreign exchange reserves. This is a black hole that must be plugged, with more going out than coming in.
4. User information protection:
Opening a brokerage account is a very long process, requiring users to submit a lot of information, which has led to overseas institutions beyond jurisdiction obtaining sensitive information of domestic users, which is currently unacceptable. When Didi goes public, it may leak map surveying and travel data to the blue team. Similarly, Futu Tiger, which is listed on the beautiful country, holds the financial data of mainland residents, also faces the same risks.
How to communicate with customer needs?
The demand for investing in Hong Kong and US stocks in the future can be met by releasing more QD quotas. Residents sending funds out through institutional channels and the inflow and outflow of institutional funds will be considered more controllable by the regulators.
Ordinary residents should not directly participate in the secondary market investment, as this path may become blocked.
6. How will Futu end?
Futu will not go bankrupt, after all, it can still exist as a local brokerage in Hong Kong, serving Hong Kong and Singapore residents is fully legal and compliant.
However, the biggest dividend of Futu's rise in recent years comes from the increasing demand from mainland Chinese residents to invest in overseas-listed Chinese concept stocks. If there is no increment of new users from the mainland, the decline in Futu's growth rate is an inevitable outcome.
According to Sun Tianqi's process of handling internet deposits last year, from the initial statement to the final resolution, it takes about six months. Don't be impatient, wait and see.

$Visa (V.US)$ $Block (SQ.US)$ $PayPal (PYPL.US)$ The U.S. Justice Department is probing Visa Inc's (V.N) relationships with large fintech companies as part of its antitrust investigation of the card giant.
Antitrust investigators are looking into the financial incentives that Visa gave Square Inc (SQ.N), Stripe Inc and Paypal Holdings Inc (PYPL.O), the report said, citing people familiar with the matter.
Visa, which reported its quarterly results on Tuesday, declined to comment.
The company said earlier in March the Justice Department was looking at its debit practices after reports that the United States was investigating whether Visa uses anti-competitive practices in the debit-card market. read more
The Justice Department had previously investigated the credit card payments industry but settled with Visa and Mastercard Inc (MA.N) in 2010 when they agreed to allow merchants to offer consumers incentives to use a low-cost credit card.
Thoughts on this news? Possibly why V has tanked further today after its earnings?

$Bed Bath & Beyond Inc (BBBY.US)$ When will I be back