TechFlow News, July 02, according to straitstimes reports, the U.S. Securities and Exchange Commission is reviewing a suspicious insider trading case involving Futu Holdings and Tiger Brokers. Market maker Susquehanna International Group stated that traders bought a large amount of related options before Chinese regulatory authorities cracked down on cross-border brokerage business on May 22, profiting approximately 100 million USD, causing losses of over 70 million USD for them as the counterparty.
The court has approved freezing some relevant accounts and allowed retrieving identity information of account holders. The scope and progress of the regulatory investigation remain unclear at present.
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