Futu Responds to Media Report
October 15 2021 - 4:00AM
Futu Holdings Limited (“Futu” or the “Company”) (Nasdaq: FUTU), a
tech-driven online brokerage and wealth management platform in
China, today noted that a certain Chinese media outlet questioned
the ability of certain online brokers, including the Company, to
handle Chinese investors’ personal data for cross-border trading of
stocks in accordance with the requirements of China’s Personal
Information Protection Law (the “PIPL”), which will come into force
on November 1, 2021. In response to the media report, Futu
reiterated that regarding the rectification opinions put forward by
the “Special Task Force on the Regulation of Apps” in July 2019,
Futu contacted the Task Force immediately thereafter and had
completed all the rectification work in satisfaction of the
relevant opinions and regulatory requirements by August 2, 2019.
Futu also emphasized that since its founding, it
has made the protection of personal information and data its top
priority. The Company has been strictly complying with applicable
laws and regulations, and maintained regular self-inspection to
ensure compliance. Futu has also engaged external law firms and
professional cybersecurity teams to conduct regular cybersecurity
studies, examinations and inspections so as to optimize its systems
and boost its risk prevention capabilities. Regarding the PIPL and
other Chinese laws and regulations on data protection, Futu has
always been closely monitoring the latest regulatory developments
and optimizing its compliance practices. Futu is subject to similar
data and privacy protection requirements in other markets in which
the Company operates, including the United States and Singapore.
The Company has always been, and will continue, actively
communicating with regulators, strengthening internal training to
enhance employee’s awareness on personal information protection,
and honing its capabilities of safeguarding personal
information.
About Futu Holdings Limited
Futu Holdings Limited (Nasdaq: FUTU) is an
advanced technology company transforming the investing experience
by offering a fully digitized brokerage and wealth management
platform. The Company primarily serves the emerging affluent
population, pursuing a massive opportunity to facilitate a
once-in-a-generation shift in the wealth management industry and
build a digital gateway into broader financial services. The
Company provides investing services through its proprietary digital
platform, Futubull and moomoo, each a highly integrated application
accessible through any mobile device, tablet or desktop. The
Company’s primary fee-generating services include trade execution
and margin financing which allow its clients to trade securities,
such as stocks, warrants, options, futures and exchange-traded
funds, or ETFs, across different markets. Futu has also embedded
social media tools to create a network centered around its users
and provide connectivity to users, investors, companies, analysts,
media and key opinion leaders.
Safe Harbor Statement
This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the United States Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Among other things, the quotations from the management
team of the Company, contain forward-looking statements. Futu may
also make written or oral forward-looking statements in its
periodic reports to the SEC, in its annual report to shareholders,
in press releases and other written materials and in oral
statements made by its officers, directors or employees to third
parties. Statements that are not historical facts, including
statements about Futu’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: Futu’s goal and strategies; Futu’s expansion plans;
Futu’s future business development, financial condition and results
of operations; Futu’s expectations regarding demand for, and market
acceptance of, its credit products; Futu’s expectations regarding
keeping and strengthening its relationships with borrowers,
institutional funding partners, merchandise suppliers and other
parties it collaborate with; general economic and business
conditions; and assumptions underlying or related to any of the
foregoing. Further information regarding these and other risks is
included in Futu’s filings with the SEC. All information provided
in this press release and in the attachments is as of the date of
this press release, and Futu does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law.
For investor inquiries, please contact:
Investor RelationsFutu Holdings Limitedir@futuholdings.com
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