An investor looks at a stock chart on a smartphone. Internet brokerages like Futu and Tiger have come under the gaze of China’s central bank. Photo: Shutterstock
An investor looks at a stock chart on a smartphone. Internet brokerages like Futu and Tiger have come under the gaze of China’s central bank. Photo: Shutterstock

Futu, Tiger Brokers fall sharply as Chinese central banker warns on offshore trading by online brokers

  • People’s Bank of China official said online brokers need to be licensed in China to offer cross-border trades to mainland residents
  • China’s strict data privacy law goes into effect on November 1, raising risks for online brokers, state media said recently

Topic |   Banking & finance
An investor looks at a stock chart on a smartphone. Internet brokerages like Futu and Tiger have come under the gaze of China’s central bank. Photo: Shutterstock
An investor looks at a stock chart on a smartphone. Internet brokerages like Futu and Tiger have come under the gaze of China’s central bank. Photo: Shutterstock
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