![\"an](\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2026\/05\/1779675789_124_0x0.jpg\")
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Advertisement banner for “moomoo,” an investment platform, displayed at KL Sentral station Malaysia. (Photo by: ruelleruelle\/UCG\/Universal Images Group via Getty Images)<\/p>\n
UCG\/Universal Images Group via Getty Images<\/p>\n
Shares in Futu Holdings, the Hong Kong-headquartered online financial services company known internationally for its Moomoo and Futubull platforms, plunged by nearly 28% on the Nasdaq on Friday after the company said it was facing an investigation by China\u2019s securities regulator. <\/p>\n
Futu, whose founder and CEO is Chinese billionaire Li Hua, announced in a press release<\/a> it had \u201creceived a Notice of Investigation and an Administrative Penalty Pre-Notification Letter\u201d from the China Securities Regulatory Commission, or CSRC, and its Shenzhen bureau in connection with its operations in mainland China. <\/p>\n The CSRC said certain Futu entities in mainland China and Hong Kong \u201cwithout obtaining the requisite licenses or approval, conducted securities business, public fund sales business and futures business in mainland China in violation of the Securities Law, the Securities Investment Fund Law and the Futures and Derivatives Law of the People\u2019s Republic of China.\u201d<\/p>\n The CSRC proposed \u201cto order the related companies to rectify or cease such activities, confiscate illegal gains, and impose fines\u201d with a penalty of approximately 1.85 billion yuan (approximately $271 million). In addition, the CSRC proposed to impose a personal fine of 1.25 million yuan (approximately $183,575) on Li, Futu said. The penalties are subject to further proceedings and final calculation by the CSRC; Futu said it will cooperate and business outside of mainland China remains normal.<\/p>\n Founder Still A Billionaire<\/p>\n Futu\u2019s Nasdaq-traded stock closed at $89.76, a 13-month low, on Friday. Li\u2019s wealth stands at $4.6 billion on the Forbes Real-Time Billionaires List, down from $7.6 billion on the 2026 Forbes Billionaires List published in March. He holds a degree from Hunan University with a major in computer science. Li, who also goes by Leaf Li, founded Futu in 2007; he earlier held senior posts at Tencent and was the 18th employee at the Chinese Internet giant. <\/p>\n Moomoo competes in the U.S. with E-Trade, Robinhood Financial and Charles Schwab.<\/a> It has cited in-depth data, education tools and effective marketing as competitive strengths. Futu, which still boasts a market capitalization of $12.6 billion, has been expanding internationally in markets including Malaysia and Singapore. Through its digital platforms Moomoo and Futubull, Futu offers trade execution and clearing, margin financing, securities lending, and wealth management. It had 29 million users worldwide as of the end of 2025, according to company figures. <\/p>\n Futu will post earnings results for the first three months of 2026<\/a> this Thursday, May 28. <\/p>\n ForbesTrump, Xi Need To Prove Famous Chinese Adage About Tigers WrongBy Russell Flannery<\/a>ForbesAction! U.S. Accountant Finds China Social Media Audience At Age 69By Russell Flannery<\/a>ForbesChina Real Estate Slump Opens \u201cIncredible Opportunities\u201d For CitiesBy Russell Flannery<\/a>ForbesNew York-Based China Institute Names Jin Yu As PresidentBy Russell Flannery<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Advertisement banner for “moomoo,” an investment platform, displayed at KL Sentral station Malaysia. (Photo by: ruelleruelle\/UCG\/Universal Images Group…\n","protected":false},"author":2,"featured_media":458468,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,81333,1657,26996,213739,213737,3448,85,46,213738,51662,18814],"class_list":["post-458467","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-charles-schwab","tag-china","tag-china-securities-regulatory-commission","tag-e-trade","tag-futubull","tag-hong-kong","tag-il","tag-israel","tag-moomoo","tag-robinhood","tag-tencent"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/458467","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=458467"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/458467\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/458468"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=458467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=458467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=458467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}