Zhang Jingting
Yesterday was the last trading day for U.S. stocks in 2022. Futu Holdings and Tiger Securities were suddenly hit by this thunderstorm, and their stock prices fell in response. Futu fell by 31.0%, and Tiger Securities fell by 28.5%. Among the vast number of domestic investors, Tiger and Futu are currently the main platforms that can speculate in US stocks. According to the China Securities Regulatory Commission, these two platforms are “carrying out cross-border securities business for domestic investors without the approval of the China Securities Regulatory Commission.” , That is to say, the cross-border securities business it conducted to domestic investors before is illegal? So here comes the question for everyone. It has not been a year or two for us to speculate in US stocks through Tiger and Futu. Why did it not be illegal a few years ago, but now it is suddenly illegal again? If the cross-border securities business provided by these two platforms is illegal, does it imply that domestic investors are not allowed to invest in overseas stocks? The SFC still needs to answer these questions.
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