[Futu Securities (Hong Kong) Responds to China's Eight Ministries' New Cross-Border Securities Regulations: Users with Overseas Identity Not Affected] BlockBeats News, May 25: Futu Securities (Hong Kong) issued a statement regarding recent regulatory developments. Recently, China's eight ministries released a rectification plan for cross-border securities business, which is an industry-wide regulation targeting institutions that provide overseas securities and fund trading services to mainland investors, including all relevant brokerages, banks, and other financial institutions. Any claims by institutions stating they are not subject to the new regulations by the eight ministries may be fraudulent. Users are advised to retain written communication evidence to safeguard the security of their assets. This mainland regulatory guideline applies only to investors who "hold only a Mainland China ID card or passport, with no overseas identity." If users simultaneously hold any of the following overseas identification documents, they will not be affected, and their accounts and all trading services will operate as usual: - Hong Kong Permanent Resident ID Card - Hong Kong Non-Permanent Resident ID Card (Temporary ID) - Work Visa/Study Visa - Other valid overseas identification documents Futu Securities (Hong Kong) stated that, as of now, there are no detailed regulatory rules for the industry's two-year concentrated rectification period. User accounts and all trading/fund services remain fully operational.