BlockBeats News, May 23rd - Changqiao Securities further explained the recent regulatory matters regarding China's cross-border securities business. Changqiao Securities stated that the Hong Kong Securities and Futures Commission and the China Securities Regulatory Commission, among other mainland regulatory authorities, have recently issued new regulatory requirements regarding cross-border securities business, providing industry-wide standardized regulations for services targeting mainland investors. This regulatory framework is applicable to all overseas financial institutions. Changqiao actively responds to the regulatory guidance from both regions and will steadily promote compliance work in accordance with the requirements.

Changqiao Securities stated that the scope of accounts to be cleared under this regulatory requirement is limited and specific, mainly targeting two types of accounts: first, investment accounts opened with suspicious or forged documents; second, investment accounts with zero balances and no trading activity. Customer accounts that are opened properly, compliantly, and hold genuine assets and positions are not within the scope of this clearance. Changqiao firmly supports a zero-tolerance attitude towards fraudulent account opening behavior and will handle it strictly in accordance with regulatory requirements.