SvmuuNews: Changle Securities has issued a further explanation regarding recent regulatory matters concerning China's cross-border securities business. Changle Securities stated that the Hong Kong Securities and Futures Commission (SFC) and the China Securities Regulatory Commission (CSRC), along with other Mainland regulatory authorities, have recently released the latest regulatory requirements on cross-border securities business, establishing unified industry standards for services targeting Mainland investors. These regulatory rules apply to all overseas financial institutions. Changle Securities actively responds to the regulatory guidance from both regions and will steadily advance its compliance work in strict accordance with the relevant requirements.
Changle Securities stated that the scope of account clean-up required by this regulation is limited and clearly defined, primarily targeting two types of accounts: first, investment accounts opened using suspicious or forged documents; second, investment accounts with zero balance and no activity. Customer accounts that were opened normally and compliantly and hold real assets and positions are not within the scope of this clean-up. Changle Securities firmly supports the regulatory stance of zero tolerance for fraudulent account openings and will handle the matter strictly in accordance with regulatory requirements. (E Company)