Futu Holdings Ltd (NASDAQ:FUTU) shares are under heavy pressure Friday.
The company said it received a penalty notice from China's top securities regulator over alleged illegal cross‑border services.
Futu Holdings stock is testing lower boundaries.
What's pressuring FUTU?
CSRC Moves Forward With A Major Enforcement Case Futu received both a Notice of Investigation and an Administrative Penalty Pre‑Notification Letter from the China Securities Regulatory Commission (CSRC) and its Shenzhen bureau.
