China Strengthens Measures Against Illegal Cross-Border Securities Activities

China's Securities Regulatory Commission, along with seven other departments, has issued a new plan to address illegal cross-border securities and futures activities. According to Odaily, the plan emphasizes the need to strengthen internet platform oversight and information clearance. The Cyberspace Administration of China is tasked with urging domestic internet platforms to improve their systems for reviewing and monitoring information related to illegal cross-border operations. Platforms are required to promptly address and remove relevant information and accounts as per the notifications from financial management departments. Severe cases involving internet platforms and online media will result in strict interviews and penalties. Telecommunications authorities will remove or shut down domestic websites and apps linked to illegal cross-border operations, based on lists provided by financial management departments. Additionally, market regulatory departments will address illegal advertisements identified by financial management departments.