$Futu Holdings Ltd (FUTU.US)$ A lot of people are discussing...
$Futu Holdings Ltd(FUTU.US$ A lot of people are discussing November 1st. What will happen on November 1st, can anyone tell me?
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Im K : doomsday
wantqq123 : It is possible that starting November 1, mainland people will no longer be able to use Futu to invest in US stocks. This is a major negative news for Futu
investing陈 : A day full of photos. Maybe the stock market will drop, and it may rise.
快乐的小韭菜菜 : How can I get that money out
wantqq123 快乐的小韭菜菜: The money can definitely be withdrawn; it probably won't be possible to deposit any more money.
QianmengYu 快乐的小韭菜菜: Aren't you happy that the money went to Hong Kong? Just open a Hong Kong bank account and go anywhere. Many people spend 10% to 20% to launder money overseas.
101859022 : See the stock going up also don’t dare to buy. After Monday Drop Back to 45. Sigh !!!
Vlastimil : On 1st Nov China People Information privacy Law will come into force, which is enforced ex-territorial. This means that any company processing sensitive information of Chinese citizens must abide by this law, otherwise it’s punishable in China. Now, FUTU and TIGER are Chinese stocks but serving minimally to Chinese people.. fear is that this can close the broker .. in my humble understanding bit at all. There is no reason for any fear. In maximum, China will cut cross-border brokerage , but until now it didn’t issue any guidance or regulations. Until , they will figure out how to deal with it, they will keep it in same way. FYI both tiger and FUTU has less than <20% revenue from Chinese citizens.. it would slow grow, but impact is minimal.
Duskerdawn : Erm... that's not exactly how regulations work. There is usually a transitional period for regulations...
Besides the 1 Nov regulations is about the personal data regulations in China which futu and tiger have said they have already reached out to that specific regulator and complied.
The more interesting one which won't be resolved any time soon is the "brokerage license" issue. That one is interesting as both tiger and futu are operating in a grey area of finance.
So yeah I understand the short term momentum is bad, but I'm not a short term traders so I have to act only on fundamentals.
快乐的小韭菜菜 101859022: I have a question about what kind of account I have? Ah, I paid for the Bank of America but opened an account with an ID card
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