The Hong Kong Securities and Futures Commission issued a restriction notice to Futu to freeze assets exceeding 125 million yuan related to suspected initial public offering fraud

The Hong Kong Securities and Futures Commission (SFC) issued a restriction notice to Futu Securities International (Hong Kong) Limited (Futu), prohibiting it from handling or disposing of assets within client accounts held by a certain entity, limited to 125,247,000 HKD. This entity is suspected of participating in a fraudulent scheme aimed at creating a false or misleading appearance of demand for initial public offering shares.