PANews reported on May 22 that, according to Cailian Press, in response to the China Securities Regulatory Commission's (CSRC) investigation into relevant domestic and overseas entities of Changqiao Securities and its proposed administrative penalties, Changqiao Securities stated that its licensed entities are regulated by overseas regulatory agencies such as the Hong Kong Securities and Futures Commission. Changqiao emphasized that client funds are completely segregated from the company's operating funds and are held in independent custodian bank accounts as required by regulations; its US and Hong Kong stock holdings are held in custody by the US Depository Trust and Clearing Corporation (DTCC) and the Hong Kong Securities Clearing Company Limited (HKSCC) respectively, and are protected by the Hong Kong Investor Compensation Fund (ICF). Furthermore, the company will strictly implement all rectification requirements and proceed with relevant arrangements in accordance with laws and regulations.