China — China Securities Regulatory Commission & Bank of China

China — China Securities Regulatory Commission: The CSRC initiated the crackdown and issued the Notification Letter to Futu, proposing penalties. It is the key regulator enforcing compliance in cross-border securities activities.

Bank of China: The Bank of China was one of the agencies involved in the crackdown, supporting the regulatory action.

China — China Securities Regulatory Commission: Previously fined Hui and banned him from securities markets for life for financial reporting fraud, contributing to the regulatory crackdown.

Bank of China: China's central bank cracked down on the leveraged property sector six years ago, contributing to the current crisis. Its policies continue to shape the sector's trajectory.

China — China Securities Regulatory Commission: Regulator that imposed penalties on Futu and initiated crackdown on cross-border securities activities.

Bank of China: The Bank of China is one of the agencies involved in the crackdown on cross-border securities.

China — China Securities Regulatory Commission: The China — China Securities Regulatory Commission granted First Plus Asset Management Qualified Foreign Institutional Investor status, a regulatory qualification that supports its cross-border investment activities.

Bank of China: The Bank of China approved First Plus Asset Management for Bond Connect, enabling access to China's bond market, which is relevant to its cross-border operations.