Webull HK Says Operations Are '100%' Compliant Amid CSRC Cross-Border Crackdown

Webull HK said its operations comply with Hong Kong and mainland regulatory requirements amid the China Securities Regulatory Commission’s recent crackdown on illegal cross-border investment activities. According to Ming Pao, Webull HK COO Ma Yuqing said the firm’s business is “100% compliant” and it currently has no plan to open physical stores in Hong Kong. Webull HK CEO Wang Haichen said the group operates in 16 markets with more than 27 million registered users globally, and offers zero-commission investing to users in eight markets including Hong Kong. He said zero-commission trading is a global trend, and whether competitors in Hong Kong will fully adopt it depends on their business models.