Cross-border securities firms are tightening account opening procedures further.

On September 22nd, it was reported by the media that Futu and Tiger further closed the account opening channels for mainland Chinese residents. Subsequently, reporters learned from the industry insiders that while there have been no new regulatory guidance received by relevant securities firms recently, there has indeed been a tightening of account opening channels for mainland Chinese residents. Information provided by Futu customer service shows that currently, Futu Securities requires mainland customers to hold overseas permanent resident documents, with other overseas permanent residency certificates not supported at the moment. Customers from Hong Kong and Macau need to provide corresponding identity documents. Information provided by Tiger customer service remains consistent with previous information: according to regulatory compliance requirements, mainland customers residing abroad need to provide valid proof of overseas work/life, such as local work visas, residence permits, tax certificates, etc., and only after strict verification can the account opening be processed.