The China Securities Regulatory Commission (CSRC) plans to impose severe punishment in accordance with the law on Tiger Brokers, Futu, and Long Bridge, confiscating all illegal gains obtained by relevant entities at home and abroad.

BlockBeats News, May 22, according to Xinhua News Agency, the illegal cross-border business activities of Tiger Brokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited violated Chinese securities, fund, and futures laws and regulations, disrupted the market order, and must be resolutely cracked down upon. In accordance with relevant regulations, the China Securities Regulatory Commission (CSRC) intends to confiscate all illegal gains of Tiger, Futu, and Changqiao's domestic and foreign related entities and impose severe penalties according to the law.

Source: BlockBeats

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