China Securities Regulatory Commission and Seven Other Departments: Full Crackdown on Illegal Cross-Border Operations by Overseas Securities, Futures, and Fund Institutions

Odaily Planet Daily News According to official sources, the China Securities Regulatory Commission (CSRC) and seven other departments have jointly issued the "Implementation Plan for the Comprehensive Rectification of Illegal Cross-Border Securities, Futures, and Fund Operations." The overall requirement of the rectification plan is to completely ban the illegal cross-border operations of overseas securities, futures, and fund institutions after two years of concentrated rectification, achieving the goal of "resolutely banning illegal activities and prudently clearing existing stock."

The targets of the rectification include overseas institutions illegally operating cross-border securities, futures, and fund businesses; domestic affiliated or cooperative entities assisting these overseas institutions in illegal cross-border operations; illegal intermediaries soliciting domestic investors; and internet platforms and online self-media that illegally publish information. The illegal cross-border operations of overseas institutions will be banned according to law. Acts by relevant entities that violate laws and regulations on foreign exchange management, anti-money laundering, cybersecurity and information management, and personal information protection will also be included within the scope of the rectification.