Futu Holdings Ltd (NASDAQ:FUTU) shares are trading lower following a report on Nasdaq's website titled 'Chinese online brokers Futu and UP Fintech face regulatory risks - People's Daily website.'

"Such brokerages, which help mainland Chinese individuals invest in overseas markets such as the United States and Hong Kong, could violate data privacy rules and also runs compliance risks," the report on Nasdaq's website highlights.

Futu Holdings is an online broker providing one-stop online investing services. The company provides its services through its digital platform Futu NiuNiu, which includes market data, trading service and news feed of Hong Kong, Mainland China, Singapore and United States equity markets.

Futu has a 52-week high of $204.25 and a 52-week low of $29.30.