China Regulator Says Futu, Up Fintech Violated Laws


This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit

Companies accused of allowing customers on the mainland to make cross-border trades

By Weilun Soon

SINGAPORE—China’s securities regulator said two Nasdaq-listed online brokers violated its domestic laws by allowing customers on the mainland to make cross-border trades, stoking concerns that Chinese authorities aren’t finished with their crackdowns on private-sector companies. 

The American depositary receipts of Up Fintech Holding Ltd., which is also known as Tiger Brokers, fell 29% Friday in New York trading, and Futu Holdings Ltd. fell 31% after the China Securities Regulatory Commission put out a statement that mentioned both companies. 


Please enter your comment!
Please enter your name here