Moomoo parent Futu Holdings shares plunge 28% on the Nasdaq after facing a $271M fine from China over unlicensed trading operations.

Chinese billionaire CEO Leaf Li still holds estimated fortune worth $4.6 billion

Mainland investors face tighter restrictions as Beijing broadens campaign against unlicensed offshore brokerage activity

Moomoo parent Futu Holdings shares plunge 28% on the Nasdaq after facing a $271M fine from China over unlicensed trading operations.

Futu and Up Fintech shares fell 30-40% after China's CSRC imposed massive fines and barred mainland clients from opening new positions on offshore platforms.

Securities Fraud Investigation Into Futu Holdings Limited (FUTU) Announced – Shareholders Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz