SHANGHAI (Reuters) – Hong Kong-based Bright Smart Securities said on Thursday that mainland China investors can continue their trading activities via existing accounts, after China said a clean-up of offshore brokerage won’t affect existing clients.
The broker said in a statement it had received clear guidance from China’s regulators to this effect.
China’s securities regulator said on Wednesday that a clean-up of illegal cross-border brokerage businesses does not affect existing accounts, refuting speculation that offshore brokerages would be banned from servicing mainland investors.
Bright Smart said earlier it will fully suspend the purchase function of all accounts opened by mainland clients in China starting from Feb. 16, until relevant regulations are clarified by Chinese authorities.
(Reporting by Shanghai Newsroom; Editing by Shri Navaratnam)
