Source: China – South China Morning PostThe China Securities Regulatory Commission recently fined three Hong Kong brokerages – Tiger Brokers, Futu Securities International and Longbridge Securities – over US$330 million for offering mainland investors access to overseas stocks without authorisation. This should not be misconstrued as a move to discourage overseas investment.
It is merely an attempt to discourage mainland investors from illegal channels that violate China’s capital controls. This is evidenced by the fact that the…Read More