China steps up crackdown on “illegal” cross-border securities trading, hitting Tiger Brokers, Futu and Longbridge
On May 22, 2026, China’s securities regulator announced a stronger crackdown on “illegal” cross-border securities and stock trading, affecting brokers or platforms including Tiger Brokers, Futu and Longbridge. Three sources point to the same core outcome: the regulatory move has already taken effect and the companies’ shares or ADRs came under pressure, though the exact penalties, targets and business descriptions differ across the sources.