FUTU-W

Happy to receive the gift. Summer is over, and a bull market is coming! $XL2CSOPHYNIX(07709.HK)$XTALPI(02228.HK)$Tesla(TSLA.US)$Rocket Lab(RKLB.US)

Just now, both brokerage firms held conference calls with analysts and announced the penalty amounts. Overall, the two types of regulatory actions this time—fines and stock clearance—are relatively mild:

Fines: The pre-processing fine amounts for both institutions have been publicly announced, which are overall lower than market expectations (Futu: 1.85 billion yuan, Tiger Brokers: 410 million yuan).

Stock Clearance: This control measure is centered on the actual place of residence (physical jurisdiction). Overseas trading and fund transfers for existing mainland clients are unaffected; on the domestic platform, only selling and fund withdrawals are allowed.

Details of Stock Clearance: It does not require mainland clients to liquidate their stocks and close accounts within two years. Instead, after two years, domestic web servers will be shut down, prohibiting trading within the mainland. Clients located overseas can still deposit funds and trade normally.

Scope of Application: The new regulations apply to all overseas institutions, covering all overseas financial entities providing securities services to mainland clients. It is not only targeting Futu and Tiger Brokers but also includes overseas banks offering securities-related services.

Longbridge, being a non-listed company, should face relatively lighter penalties, and it's estimated that it won't be required to disclose them. In short, after two years, it's the crypto treatment—use a VPN.

$Futu(FUTU.US) $UP Fintech(TIGR.US)

Just support it once$Futu(FUTU.US)

$Futu(FUTU.US) closed the position and took profits.

$Futu(FUTU.US) Buy a little