China cracks down on cross-border capital outflows, targets overseas brokers with $330M in fines
China just dropped the hammer on overseas brokers doing business on the mainland without a license. The China Securities Regulatory Commission, working alongside seven other government agencies, announced a coordinated crackdown on illegal cross-border securities trading on May 22. The trigger: an estimated $1 trillion in unauthorized capital left China in 2025. That’s the largest…

