Svmuu News: In response to the China Securities Regulatory Commission's (CSRC) investigation and proposed administrative penalties against Longbridge Securities and related domestic and international entities, Longbridge Securities has issued a statement. It noted that its licensed entities are regulated by overseas regulatory bodies such as the Hong Kong Securities and Futures Commission (SFC).
Longbridge emphasized that client funds are completely segregated from the company's operating capital and are held in independent custodian bank accounts as required by regulations. The US and Hong Kong stocks held are respectively custodied by the Depository Trust & Clearing Corporation (DTCC) and the Hong Kong Securities Clearing Company Limited (HKSCC), and are protected by the Hong Kong Investor Compensation Fund (ICF). Meanwhile, the company will strictly implement all rectification requirements and promote related arrangements in accordance with laws and regulations. (Cailianshe)