changqiao

According to First Financial News, recently Futu and ChangQiao have both started to clean up accounts that opened with false documentation, as well as empty accounts with no assets or positions, processing the closure of these two types of accounts.At the same time, the Futu NiuNiu APP has added a new quick access entry for "Update Identity Information" in the "Account" section, along with a document titled "Instructions for Updating Identity Information," reminding customers that if they hold valid foreign identity proof, the completion of the information update will not affect any account transactions, fund deposits, or withdrawals, and other business functions.

According to e Company, Changqiao Securities has further clarified the recent regulatory matters regarding cross-border securities business in China. Changqiao Securities stated that the Hong Kong Securities and Futures Commission and the China Securities Regulatory Commission, along with other mainland regulatory departments, have recently issued the latest regulatory requirements for cross-border securities business, establishing unified industry standards for services aimed at mainland investors.These regulatory rules apply to all foreign financial institutions. Changqiao actively responds to the regulatory guidelines from both regions and will steadily advance compliance work in strict accordance with the relevant requirements. Changqiao Securities indicated that the scope of accounts targeted by this regulatory requirement is limited and clearly defined, mainly focusing on two types of accounts: first, investment accounts opened using suspicious or forged documents; second, investment accounts with zero balances. Customer accounts that are opened in compliance, with real assets and holdings, are not included in this cleanup. Changqiao firmly supports the regulatory attitude of zero tolerance towards fraudulent account opening behaviors and will handle matters strictly according to regulatory requirements.

According to Caixin, in response to the China Securities Regulatory Commission's investigation into Changqiao Securities and the proposed administrative penalties, Changqiao Securities stated that its licensed entities are regulated by overseas regulatory agencies such as the Hong Kong Securities and Futures Commission.Changqiao emphasized that customer funds are completely separated from the company's operating funds and are stored in independent custody bank accounts as required by regulations; the U.S. stocks and Hong Kong stocks held are respectively custodied by the Depository Trust & Clearing Corporation (DTCC) and Hong Kong Securities Clearing Company Limited (HKSCC), and are protected by the Hong Kong Investor Compensation Fund (ICF). At the same time, the company will strictly implement all rectification requirements and legally and compliantly promote relevant arrangements.

The China Securities Regulatory Commission has filed an investigation and issued a prior notice of administrative punishment against TigerBrokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited for illegal securities business operations by relevant entities both domestically and abroad.According to the notice, the relevant entities of Tiger, Futu, and Changqiao conducted securities trading marketing, processed trading instructions, and provided related securities business services to obtain relevant income without the approval of our commission and without obtaining the licenses for securities brokerage business and securities financing and margin trading business, violating the provisions of Article 120 of the Securities Law, thus constituting illegal operation of securities business.In accordance with the provisions of Article 202 of the Securities Law, Article 136 of the Securities Investment Fund Law, and Article 132 of the Futures and Derivatives Law, our commission intends to decide to confiscate all illegal gains of the relevant entities of Tiger, Futu, and Changqiao, and impose severe penalties according to the law. The parties involved have the right to make statements, defend themselves, and request a hearing regarding the administrative penalties to be imposed. Our commission will fully listen to the opinions of the parties involved before making an administrative penalty decision in accordance with the law.

ChainCatcher news, according to Ming Pao Finance, Changqiao Technology, which provides digital services for brokers, has launched a "7x24 one-stop virtual asset trading system solution" for brokers. This solution can provide two main services, applications and counter services, based on the actual needs of the brokers, and charges brokers a monthly fee. China Tonghai International Financial (0952) subsidiary Huafu Jianye Securities has become the first broker to launch virtual asset trading in collaboration with Changqiao Technology.Changqiao Technology, along with virtual asset trading platforms HashKey and OSL, provides solutions for brokers, offering users market data, historical K-line charts, and transaction statistics. Huafu Jianye Securities' Managing Director Zhen Jingmin also demonstrated the completion of the first virtual asset transaction using the customized application from Changqiao Technology at today's press conference.Hu Guowen, CEO of Changqiao Technology (Hong Kong), stated that besides Huafu Jianye Securities, there are currently more than 20 brokers interested in collaboration, and it is expected to cooperate with around 30 brokers this year. When asked about the current situation where only professional investors can invest in virtual assets in Hong Kong, and that only Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) are accepted at present, Hu Guowen indicated that if in the future general investors and other cryptocurrencies can be accepted, the platform can accommodate that as well. (source link)