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Ashish Kumar

Huasheng to limit mainland China accounts from June 15 amid CSRC offshore broker crackdown

Huasheng Securities told clients that from June 15 (Beijing time), mainland China accounts will be blocked from opening new positions, making new purchases, or adding funds and securities to the platform. Existing users can still close current holdings and withdraw money, but cannot make fresh investments. The move follows the CSRC's May 22 action against Futu, Tiger Brokers, and Longbridge, including total penalties of 2.2 billion yuan ($324 million).
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