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Chinese online brokers Futu and UP Fintech face regulatory risks – People’s Daily website

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SHANGHAI, Oct 14 (Reuters) – U.S.-listed Chinese online brokerages Futu Holding (FUTU.O) and UP Fintech Holding face regulatory risks as China’s private information privateness regulation takes impact Nov. 1, the official People’s Daily mentioned in an evaluation on its website.

Such brokerages, which assist mainland Chinese people put money into abroad markets such because the United States and Hong Kong, may violate information privateness guidelines and additionally runs compliance risks, the article mentioned.

Reporting by Samuel Shen and Emily Chow; Editing by Toby Chopra

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