The securities regulator said it planned to penalize brokerages Futu Holdings, Tiger Brokers and Long Bridge Securities for operating on the mainland without a license, and would confiscate all “illegal gains” from their domestic and overseas entities.

China is tightening its crackdown on overseas brokerages illegally providing services to onshore investors, with regulators aiming to eradicate such activities within two years…

CSRC cracks down on three brokerages, as overseas stock demand rises on strong US tech earnings and easing Middle East tensions.

Securities watchdog penalizes Tiger Brokers, Futu and Longbridge