---
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 (114)

- **左储右光 · 2026-06-03T17:09:55.000Z**: Physical jurisdiction, so even with an overseas identity, you can't trade in mainland China?
- **muses0229 · 2026-06-03T15:26:37.000Z**: Bosses, so does that mean using a VPN still allows for normal trading?
- **zszszss · 2026-06-03T15:25:32.000Z**: Is Longbridge Singapore also affected?
- **最后一名多头 · 2026-06-03T15:00:48.000Z**: It feels like they're not targeting us ordinary investors, but rather the money that's flowing out. We're in the country, and when we make money, we also spend it. It's a win-win situation. 😋😋😋
- **HydraZen · 2026-06-03T14:48:42.000Z**: Finally someone has made this clear 👍👍👍 Excellent
- **壹只喵猫 · 2026-06-01T12:50:50.000Z**: Boss, what's your take on the State Council's regulations on foreign investment that take effect on July 1st?
- **kk木 · 2026-05-24T15:21:24.000Z · 👍 1**: 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 · 👍 2**: 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 · 👍 5**: The only impact after messing around all day is that I need to use a VPN😮‍💨
  - **ll爱琴海** (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.