Futu Holdings’ stock fell over 30% on May 22, 2026, after the company disclosed that it received a Notice of Investigation and Administrative Penalty Pre-Notification Letter from the China Securities Regulatory Commission and its Shenzhen bureau. According to Futu, the CSRC stated that certain Futu entities in mainland China and Hong Kong conducted securities business, public fund sales business, and futures business in mainland China without the required licenses or approval, and proposed rectification or cessation of those activities, confiscation of illegal gains, and penalties totaling approximately RMB1.85 billion.
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