Tiger Securities: Subsidiary Fined 308.1 Million Yuan by Beijing Regulatory Bureau for Illegal Activities, Including Unauthorized Cross-Border Securities Business in China

BlockBeats News, May 22, Up Fintech (formerly Tiger Securities) announced that on May 22, 2026, some of the company's subsidiaries received a notice from the Beijing Regulatory Bureau of the China Securities Regulatory Commission, indicating that the Beijing Regulatory Bureau of the CSRC has initiated an investigation into their suspected illegal activities in securities, funds, and futures business. The investigation found that these subsidiaries were engaged in unlicensed cross-border securities business and illegal fund and futures activities in mainland China.

According to the investigation results, the Beijing Regulatory Bureau of the CSRC imposed a total of approximately 308.1 million RMB in administrative penalties and confiscated a total of approximately 103.1 million RMB in illegal gains. Mr. Wu Tianhua, the company's director, CEO, and actual controller, also received a warning and was fined 1.25 million RMB. As of the end of 2025, the retail client assets in the mainland China region in the company's consolidated financial statements accounted for approximately 10% of the company's total client assets. (Jinse)