Regulatory Pressure Forces Removal of Online Trading Apps in China
TL;DR Summary
Chinese online brokerages Futu Holdings and Up Fintech Holding will remove their apps from online stores on the Chinese mainland in response to "rectification requirements" from the Chinese Securities Regulatory Commission. The two firms stopped accepting mainland Chinese clients at the end of last year after the CSRC started inquiries regarding their cross-border operations. Existing mainland Chinese customers will still be able to trade using the apps.
- Two online trading apps yanked from stores on Chinese mainland as regulators bring pressure CNBC
- Two U.S.-Listed Online Brokers Cut China Apps as Regulatory Pressure Persists - WSJ The Wall Street Journal
- Two online brokerages to remove China apps as Beijing data crackdown widens Reuters
- Chinese Stocks Alert: Why Are FUTU, TIGR Stocks Down Today? InvestorPlace
- Futu and UP Fintech take down trading apps in China to meet CSRC requirements South China Morning Post
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