CSRC Fines Tiger Securities 411.2M Yuan, Futu Holdings 1.85B Yuan for Illegal Cross-Border Operations

GateNews
According to China's Securities and Futures Commission (CSRC) announcement on May 23, the regulator has decided to confiscate all illegal proceeds from Tiger Securities, Futu Holdings, and their overseas-related entities for unlicensed cross-border securities and futures operations. The proposed penalties amount to 411.2 million yuan for Tiger Securities and 1.85 billion yuan for Futu Holdings. The enforcement action follows an investigation into non-compliant overseas business expansion by these institutions.
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