Chinese online brokers Futu, UP Fintech face regulatory risks

Photo: Futu Holdings

US-listed Chinese online brokerages Futu Holding and UP Fintech Holding face regulatory risks as China’s new personal data privacy law takes effect on Nov. 1, the official People’s Daily said in an analysis on its website.

Such brokerages, which help mainland Chinese individuals invest in overseas stock markets such as in the United States and Hong Kong, could violate data privacy rules and also run compliance risks, the article said.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter