Futu faces $271M fine from China over unlicensed securities and futures business.

Futu Holdings Limited received a notice and pre-penalty letter from the China Securities Regulatory Commission (CSRC) for conducting securities, fund sales, and futures business in mainland China without proper licenses. The CSRC proposes fines totaling about RMB1.85 billion (USD271 million) and a personal fine on CEO Li Hua. Futu plans to cooperate fully, defend its position, and has already taken steps to rectify operations in China. The company’s international business remains unaffected and continues to grow.