Tiger Brokers: Subsidiary Fined 308.1 Million RMB by Beijing Regulatory Bureau for Illegal Activities Including Unlicensed Cross-Border Securities Business in China

Odaily News, UP Fintech Holding (formerly Tiger Brokers) announced on May 22, 2026, that certain of its subsidiaries received a notice from the Beijing Regulatory Bureau of the China Securities Regulatory Commission (CSRC). The notice indicated that the CSRC Beijing Regulatory Bureau had investigated these subsidiaries for suspected illegal activities involving securities, funds, and futures businesses. The investigation found that these subsidiaries had engaged in unlicensed cross-border securities business and illegal fund and futures-related activities within mainland China. Based on the investigation results, the CSRC Beijing Regulatory Bureau imposed an administrative penalty totaling approximately 308.1 million RMB and confiscated illegal gains totaling approximately 103.1 million RMB. Mr. Wu Tianhua, the company's Director, Chief Executive Officer, and actual controller, also received a warning and was fined 1.25 million RMB. As of the end of 2025, retail client assets in mainland China represented approximately 10% of the company's total client assets in its consolidated financial statements.