New Delhi, May 28: China has stepped up enforcement against unauthorised overseas stock trading channels as regulators move to tighten oversight of capital outflows amid rising demand from mainland investors for access to global equities, according to multiple reports.
The clampdown comes as financial regulators intensify action against platforms facilitating offshore trading outside approved investment routes, in a broader effort to reinforce capital controls and maintain financial stability.
The China Securities Regulatory Commission (CSRC) penalised Tiger Brokers, Futu Securities International and Long Bridge Securities for illegally offering mainland investors access to overseas stock markets without regulatory approval. According to the regulator, the firms promoted securities trading and processed orders within mainland China in violation of the country’s Securities Law. (IANS)
