Tiger Brokers Subsidiaries Fined 308.1 Million Yuan on May 22 for Unlicensed Cross-Border Securities Activities

GateNews
According to an official statement, on May 22, Tiger Brokers' subsidiaries received a combined administrative fine of 308.1 million yuan from China's Beijing Securities Regulatory Bureau for conducting unlicensed cross-border securities and illegal fund and futures activities. The regulator also confiscated approximately 103.1 million yuan in illegal proceeds. Tiger Brokers chairman and CEO Wu Tianhua was separately fined 1.25 million yuan and received a warning.
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