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Next in China regulatory crackdown: Online brokers — sources | The Edge Markets

News Snapshot:

(Reuters illustration filepix by Dado Ruvic) – A + A HONG KONG/SHANGHAI (Dec 17): Chinese officials are planning to ban online brokerages such as Futu Holdings Ltd and UP Fintech Holding Ltd from offering offshore trading services to mainland clients, the latest development in a broad regulatory crackdown that has roiled a wide range of sectors over the past year. The Nasdaq-listed Chinese firms are two of the biggest players in the sector and a ban would block millions of retail investors in mainland China from trading securities easily in markets such as the United States and Hong Kong. Concerns…

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