TechFlow News, May 22: In response to the China Securities Regulatory Commission’s (CSRC) initiation of an investigation into Longbridge Securities and its domestic and overseas related entities—and its proposed administrative penalties—Longbridge Securities stated that its licensed entity is supervised by overseas regulatory authorities, including the Hong Kong Securities and Futures Commission (SFC). Longbridge emphasized that client funds are fully segregated from the company’s operational funds and held in independent custodial bank accounts, as required by regulators. U.S. and Hong Kong-listed stocks held by clients are custodied respectively by the Depository Trust & Clearing Corporation (DTCC) in the United States and the Hong Kong Securities Clearing Company Limited (HKSCC), and are protected under the Hong Kong Investor Compensation Fund (ICF). Meanwhile, the company will strictly implement all rectification requirements and advance related arrangements in full compliance with applicable laws and regulations.
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