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Longbridge Securities Suspends New Positions in Mainland China on June 3

GateNews
Stocks
On June 3, Longbridge Securities announced suspension of new opening and adding positions in all products within mainland China, allowing only closing and liquidation operations. The move follows the China Securities Regulatory Commission's May 22 announcement that Longbridge and other brokers engaged in illegal cross-border business, violating securities laws. The regulator announced plans to confiscate all illegal gains and impose severe penalties.
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