Bloomberg reported that since the China Securities Regulatory Commission announced the illegal cross -border securities business of overseas securities business institutions at the end of last year, Hong Kong securities brokers began to suspend accounts from mainland China.
Bloomberg News reported on Monday (February 13) that Yaocai Securities, headquartered in Hong Kong, said in a notice issued to customers that they suspended their accounts in mainland China until they received the next regulatory supervisionThe instructions are so far.
The China Securities Times also quoted people familiar with the matter. Guotai Junan Headquarters has notified the monarch Hong Kong to stop opening an account for the individual of mainland residents. The existing mainland customers are temporarily not affected.This report has been withdrawn from the Securities Times website, but can be seen on the Sina Finance website.
The spokesperson for Guotai Junan and Yao Cai Securities have not responded to Bloomberg's comment request.
The China Securities Supervision and Administration Commission said on December 30 last year on the official website that the two securities companies Futu Holdings and Tiger Securities have not been approved by the Securities Regulatory Commission in recent years.business.
The Securities Regulatory Commission said that they had shown a regulatory attitude through media voices. The cross -border securities business of such overseas securities business institutions did not comply with relevant laws and regulations.On November 11, 2021, they conducted regulatory interviews with Futu Holdings and Tiger Securities executives, asking the two companies to regulate cross -border securities business for domestic investors.
The China Securities Regulatory Commission decided to promote the improvement of illegal cross -border exhibition industry in Futu Holdings and Tiger Securities last year. These companies are required to prohibit domestic investors and new customers in domestic investors and develop new accounts.
The Securities Regulatory Commission allows investors to continue to carry out transactions through the original overseas institutions.The CSRC will also take further regulatory measures according to the rectification.
