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Breaking News! The China Securities Regulatory Commission plans to confiscate all illegal gains of entities related to Tiger, Futu, and Changqiao
On May 22, the latest news, the China Securities Regulatory Commission announced plans to impose strict penalties on three brokerages: Tiger Securities, Futu Holdings, and Changqiao Securities, confiscating all illegal gains of relevant domestic and overseas entities.
Following this news, the stock prices of the related brokerages in the U.S. stock market plummeted before the market opened. As of 16:41 Beijing time, Tiger Securities dropped over 44% pre-market, and Futu Holdings fell more than 31% pre-market.
#证监会 # Financial Regulation