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SEC Investigates Insider Trading Allegations Involving Futu and Tiger Brokers

On July 2, sources revealed that U.S. regulators are investigating allegations from Susquehanna International Group, claiming that unidentified insider traders profited $100 million (approximately 130 million Singapore dollars) through options trading before Chinese regulators initiated a crackdown on cross-border brokers Futu and Tiger Brokers. Susquehanna publicly disclosed its claims in a lawsuit filed in Manhattan federal court on June 29. The source indicated that the U.S. Securities and Exchange Commission (SEC) is reviewing the trades mentioned in the market maker's complaint. As of the time of publication, neither of the two leading internet brokerage firms has issued an official response regarding the investigation.

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