China has banned brokers from opening overseas trading accounts for local investors

• China has banned brokers from opening overseas trading accounts, the Financial Times reported.
• Chinese regulators ordered brokerages to shut down "new account opening channels for domestic investors."
• Foreign investors have dumped Chinese stocks at a faster clip this year amid economic troubles. 

Chinese regulators have banned brokerage firms from opening overseas trading accounts for local investors, according to a report from The Financial Times. 

In a September 28 memo reviewed by the FT, China's Securities Regulatory Commission told Chinese brokerages they had to "close all new account opening channels for domestic investors" looking to buy into offshore markets.