FUTU Accused of Trading Without Proper Licenses
On May 22, 2026, Reuters published an article entitled, "China to crack down on ‘illegal' cross-border securities." Specifically, the article reported that China "would punish brokers it accused of illegally moving money to foreign markets", and that online brokers, including Futu, "would be penalised for soliciting business in China without an onshore licence[.]"
FUTU’s Stock Drops Over 27%
Following the news of the Reuters report, Futu’s stock price fell over 27%.
If you have any questions or would like to discuss this investigation, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com.
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Kessler Topaz Meltzer & Check, LLP (KTMC) is a leading U.S. plaintiff-side law firm focused on securities-fraud class actions and global investor protection. The firm represents individual investors as well as institutions, such as major pension funds, asset managers, and international investors. KTMC has led some of the largest recoveries in securities litigation and has been recognized by peers and the legal media with numerous accolades, including The National Law Journal’s Plaintiff’s Hot List and Trailblazers in Plaintiffs' Law, BTI Consulting Group’s Honor Roll of Most Feared Law Firms, The Legal Intelligencer’s Class Action Firm of the Year, Lawdragon’s Leading Plaintiff Financial Lawyers, and Law360’s Titans of the Plaintiffs Bar. The firm operates globally with offices in Pennsylvania and California. KTMC has recovered over $25 billion for our clients and the classes they represent.