Odaily Planet Daily reports that Futu Holdings Ltd. (FUTU) announced it received a notice of investigation and a preliminary administrative penalty notice from the China Securities Regulatory Commission (CSRC) and its Shenzhen branch. The CSRC stated that certain Futu entities in mainland China and Hong Kong conducted securities business, public fund sales, and futures business in mainland China without obtaining the required licenses or approvals, violating the Securities Law, the Securities Investment Fund Law, and the People's Republic of China Futures and Derivatives Law. The CSRC intends to order the relevant companies to rectify or cease such activities, confiscate illegal gains, and impose fines, with a proposed total fine amount of approximately RMB 1.85 billion (about USD 271 million). Additionally, the CSRC intends to impose a personal fine of RMB 1.25 million (about USD 183,575) on Mr. Li Hua, the company’s founder and CEO. Futu Holdings noted that the proposed fines are subject to further procedures and the final decision of the CSRC.
Futu Holding Faces a Proposed Fine of 1.85 Billion RMB from the CSRC
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Summary
Futu Holding (FUTU) Limited received investigation notices and a preliminary fine of RMB 1.85 billion (approximately USD 271 million) from the China Securities Regulatory Commission (CSRC). The CSRC accused mainland and Hong Kong entities of operating securities, public fund, and futures businesses without proper licenses. The regulator also proposed a CFT-related fine of RMB 1.25 million (approximately USD 183,575) against CEO Li Hua. The penalties aim to strengthen compliance in liquidity and crypto markets. Futu noted that the penalties are subject to final CSRC approval.
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