An analysis of internal Webull messages by the House Select Committee on China suggests an employee based in China had access to information about a U.S. customer, despite the company saying it bars such sharing. The 2021 Microsoft Teams messages between a Webull U.S. brokerage manager, Brendan Fuller, and employee Zhenghan Wang discuss approving a trading account, and the committee says Wang was likely in China at the time. The analysis comes nearly two weeks after the committee's October 7 report concluded that Webull, which has 28 million users, is 'tied in structural ways' to China's government, and Webull shares fell more than 19% after that report. Webull says U.S. customer data is stored only in the U.S. and sensitive data is restricted to U.S.-based employees, and it argues the messages relate to a routine 2021 FINRA matter that has concluded.
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