【Futu plunges 16% before the market Company side responds to People's Network information security risk query】
07:01 AM EDT, 10/14/2021 (CLS) - People's Daily issued an article questioning the information security risk of cross-border Internet brokerage firms such as $Futu Holdings Limited(FUTU.US)$ and $UP Fintech(TIGR.US)$. Futu fell about 16% in the premarket trading session at the time of publication. Futu responded that in relation to the rectification opinions made by the App Special Regulation Work Group in July 2019, Futu contacted the rectification team in the first instance and has completed all rectification works in accordance with the regulatory requirements by Aug. 2, 2019.
Futu said that the Company has been maintaining regular self-audit and self-examination, and proactively communicating with the regulatory authorities. And in respect of the Personal Information Protection Law, it has already organized relevant professionals to study and understand the spirit of the law and arranged relevant teams to conduct self-examination. UP Fintech fell more than 15% in the pre-market session. At the time of publication, UP Fintech has not yet responded.