China Securities Regulatory Commission's new "Rectification Plan" targets overseas illegal operating agencies, domestic assisting parties and intermediaries, domestic internet platforms, and self-media

BlockBeats News, May 22nd. With the approval of the State Council of China, eight departments including the China Securities Regulatory Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the People's Bank of China, the State Administration for Market Regulation, the China Banking and Insurance Regulatory Commission, the Cyberspace Administration of China, and the State Administration of Foreign Exchange jointly issued the "Implementation Plan for Comprehensive Rectification of Illegal Cross-Border Securities and Futures Fund Operations." The targets of rectification specified in the plan include:

· Overseas institutions engaged in illegal cross-border securities and futures fund business activities.

· Domestic affiliated or cooperative entities assisting overseas institutions in illegal cross-border operations, as well as domestic illegal intermediaries that solicit, guide domestic investors to open securities and futures accounts, and profit from them.

· Websites, apps, and other internet platforms in China that illegally disseminate marketing information, provide illegal securities and futures account opening and other trading services, as well as domestic online self-media that illegally publish account opening tutorials, experience sharing, and other information.