---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41064876.md"
description: "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)"
datetime: "2026-05-23T02:43:33.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41064876.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41064876.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41064876.md)
author: "[SpaceM](https://longbridge.com/en/profiles/7317605.md)"
---

# Just now, both brokerage firms held conference cal…


### Related Stocks

- [TIGR.US](https://longbridge.com/en/quote/TIGR.US.md)
- [03588.HK](https://longbridge.com/en/quote/03588.HK.md)
- [FUTU.US](https://longbridge.com/en/quote/FUTU.US.md)

## Comments (100)

- **kk木 · 2026-05-24T15:21:24.000Z**: So just use Hong Kong traffic for the operation.
- **当好耐心资本 · 2026-05-24T13:35:42.000Z · 👍 1**: Will there be a review of existing users' addresses, followed by account closure after 2 years?
- **vaying · 2026-05-24T04:46:26.000Z**: No big problem
- **Margaret72 · 2026-05-24T04:02:49.000Z**: Not sure if it's just IP or IP+KYC, the latter would be too harsh
- **慢慢变富• · 2026-05-24T01:01:06.000Z**: Will this rectification have any impact on Longbridge in Singapore? Does anyone know?
  - **SpaceM** (2026-05-24T02:29:59.000Z): Singapore None
- **ttchong202 · 2026-05-23T14:03:50.000Z**: Good news for Hong Kong Mobile Phone Company!
- **AbrahamZeng · 2026-05-23T09:47:13.000Z**: If Hong Kong residents trade within mainland China, is it legal?
- **菜的像徐坤 · 2026-05-23T09:26:42.000Z**: Which big shot can explain, does it mean that people in mainland China can continue trading after bypassing the firewall???
- **跳着踢踏舞下班 · 2026-05-23T07:49:08.000Z · 👍 4**: The only impact after messing around all day is that I need to use a VPN😮‍💨
  - **新用户_d4ua7B** (2026-05-23T13:07:13.000Z): VPNs will soon be strictly cracked down on and banned, and VPNs won't be able to connect either.
  - **跳着踢踏舞下班** (2026-05-23T14:22:48.000Z): Now everything is betting on foreign trade, and the ladder cannot be strictly cracked down on.
  - **流光扶南** (2026-05-23T22:31:27.000Z): The ladder crackdown has a significant impact on foreign trade.
- **港美股会计师 · 2026-05-23T07:42:05.000Z · 👍 1**: Existing mainland clients' overseas trading will not be affected; the domestic platform only allows selling. How should this be interpreted? Does it require network technology for isolation? You can still trade, but you can't use the mainland's domestic network to trade? That's definitely impossible
  - **拿不住就去进厂** (2026-05-23T07:59:36.000Z): Don't underestimate the ladder; this threshold can block a large wave of trend-followers.
  - **港美股会计师** (2026-05-23T08:19:40.000Z): The problem is that, compared to blocking, the issue of using VPNs is even greater. Methods will definitely be passed on from one wave to the next, and allowing many people to access the foreign inter
- ***烟火声* · 2026-05-23T07:34:14.000Z · 👍 7**: Just using a VPN isn't that hard, I've been a player for 12 years.
- **活捉特朗普 · 2026-05-23T07:30:01.000Z · 👍 10**: The China Securities Regulatory Commission (CSRC) can't regulate overseas brokerages. The first batch of people who went into business back then all got rich, seizing the only AI opportunity in the past decade.
- **伽利略 · 2026-05-23T07:07:14.000Z · 👍 1**: The country's purpose is to prevent mainland residents from investing overseas, unless using official channels like Stock Connect (for Hong Kong). So don't hope that using a VPN will work, be cautious.
- **AnimatorChrisPeng · 2026-05-23T07:01:32.000Z · 👍 6**: Classic! Instead of solving the problem, they solve the person who raised it!
- **来财，多多来 · 2026-05-23T06:42:09.000Z · 👍 1**: I can't seem to find the Longbridge app on my US App Store ID no matter how I search. What am I going to do when I change my phone in the future? 🥹
  - **不断学习，不断进步。** (2026-05-23T07:43:48.000Z): It seems like it really can't be seen anymore.
  - **saila** (2026-05-23T07:48:24.000Z): Not changing it
  - **Q718** (2026-05-23T07:51:56.000Z): It's already unavailable in the US region. Hong Kong region.