SHANGHAI, Oct 28 ― Online brokerages not licensed in China are conducting illegal businesses if they serve Chinese clients via the internet, a Chinese central banker said, in the first official comment on recent reports flagging regulatory risks facing firms such as US-listed Futu Holding and UP...
SHANGHAI, Oct 28 ― Online brokerages not licensed in China are conducting illegal businesses if they serve Chinese clients via the internet, a Chinese central banker said, in the first official comment on recent reports flagging regulatory risks facing firms such as US-listed Futu Holding and UP Fintech Holding.
Futu and UP Fintech face regulatory risks as China’s new personal data privacy law takes effect on Nov. 1, the official People’s Daily said in an analysis on its website on Oct 14. Speaking at the Bund Summit in Shanghai over the weekend, PBOC’s Sun said that some online brokerages, with only overseas licenses, serve mainly mainland Chinese investors, allowing them to trade US and Hong Kong stocks.
The transcript of Sun’s speech was released on the website of the Finance 40 Forum, which organised the summit.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks catch Wall Street cheer but China caps gains | Malay MailHONG KONG, Oct 26 ― Asian stocks inched higher today, as upbeat Wall Street earnings lifted the broader economic outlook though fresh worries about China's property sector hit Hong Kong and mainland markets. Japan's benchmark Nikkei average opened up 1.14 per cent today, while Australia's...
Read more »
China locks down Lanzhou, city of four million over Covid-19 | Malay MailBEIJING, Oct 26 — China placed a city of four million under lockdown today in a bid to stamp out a domestic coronavirus spike, with residents told not to leave home except in emergencies. The restrictions came as China reported 29 new domestic infections — including six cases in Lanzhou, the...
Read more »
Bursa Malaysia ends lower on profit-taking | Malay MailKUALA LUMPUR, Oct 26 — Bursa Malaysia ended lower today as investors remained cautious and continued to take profit ahead of the tabling of Budget 2022 this Friday. At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.74 points to 1,584.20 from Monday’s close of 1,587.94. The...
Read more »
Sudan coup generals determined not to lose long-held power, say analysts | Malay MailKHARTOUM (Sudan), Oct 26 — By ousting senior civilian figures and disrupting a transition to democracy, Sudan’s generals have ensured they maintain control in the East African country, as they have for most of its post-independence history, analysts say. Yesterday security forces detained...
Read more »
PM Ismail Sabri expresses Malaysia’s concerns over AUKUS at the East Asia Summit | Malay MailKUALA LUMPUR, Oct 27 ― Malaysia again expressed its concerns over the trilateral security pact involving the United States, United Kingdom and Australia, known through its acronym AUKUS, this time at the 16th East Asia Summit today. Prime Minister Datuk Seri Ismail Sabri Yaakob in his...
Read more »
Fiat Chrysler nears plea deal in US emissions fraud probe, say sources | Malay MailNEW YORK, Oct 27 — Fiat Chrysler Automobiles (FCA) is nearing an agreement to plead guilty to criminal conduct to resolve a multiyear emissions fraud probe surrounding Ram pickup trucks and Jeep sport-utility vehicles with diesel engines, people familiar with the matter said. FCA lawyers and US...
Read more »