The Chinese regulator says it will impose penalties on Hong Kong-registered brokers Longbridge and Futu, which owns online platform MooMoo, as well as New Zealand-registered Tiger Brokers.

Regulators say the brokers had conducted securities-related business in China "without obtaining the necessary approvals or licences".

Regulators say the brokers had conducted securities-related business in China "without obtaining the necessary approvals or licences".

Regulators say the brokers had conducted securities-related business in China "without obtaining the necessary approvals or licences".

Regulators say the brokers had conducted securities-related business in China "without obtaining the necessary approvals or licences".

BEIJING: China's market regulator announced a sweeping investigation on Friday (May 22) against three major brokers running cross-border trading, as it launched a two-year crackdown on investment leaving the country.China does not allow private individuals to directly invest in overseas markets, requiring the

China's CSRC penalizes Tiger, Futu, and Changqiao for illegal cross-border trading while protecting existing investor assets and legal channels.