U.S.-listed Futu had been planning to add a listing in Hong Kong.Photo: Photo Illustration/Omar Marques/SOPA Images/ZUMA Press

By Weilun Soon

SINGAPORE—China’s securities regulator said two Nasdaq-listed online brokers violated its domestic laws by allowing customers on the mainland to make cross-border trades, stoking concerns that Chinese authorities aren’t finished with their crackdowns on private-sector companies. 

The American depositary receipts of Up Fintech Holding Ltd., which is also known as Tiger Brokers, and Futu Holdings Ltd. fell around 20% in Friday morning New York trading after the China Securities Regulatory Commission put out a statement that mentioned both companies. 


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