Hong Kong Brokers' Accounts Restricted Amid Regulatory Crackdown, But Registration Channels Remain Open

According to Caixin, amid ongoing regulatory crackdowns on cross-border securities brokerage, some Hong Kong brokers have implemented inconsistent restrictions on existing mainland investors. On the Futu moomoo app, accounts held by the same investor show divergent trading statuses: accounts provided by Hong Kong-licensed Futu Securities can no longer complete buy orders and require updated foreign identity documentation, while accounts serviced by a U.S.-licensed entity remain operational. Meanwhile, registration channels for some Hong Kong brokers remain accessible, and intermediaries continue recruiting clients through social platforms offering cashback incentives.
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