TIGR news & sentiment — UP Fintech Holding Ltd

MAY 25·chiangraitimes.comHigh

China Cracks Down On Offshore Brokers: Tiger Brokers, Longbridge Face Massive Fines

China’s CSRC, with seven other agencies, announced a crackdown on overseas brokers operating cross-border securities, fund sales and futures trading in mainland China without required approvals. Targets include Tiger Brokers, Futu Securities and Longbridge Securities. CSRC proposed fines totaling about 2.3 billion yuan for Tiger and Futu (Futu 1.85b yuan; Tiger ~411.2m yuan). The firms face asset confiscation and leadership fines, and a two-year rectification period limits new mainland client on

MAY 25·scmp.com

CSRC’s crackdown on cross-border trading involves US$32b in Hong Kong assets: Citic

Citic Securities said China’s CSRC crackdown on unlicensed cross-border trading could affect about HK$250 billion (US$31.9 billion) of Hong Kong assets. In a Sunday note, Citic estimated HK$150–180 billion tied to mainland investors’ Hong Kong accounts at Futu, HK$45–50 billion at Tiger Brokers, and additional amounts at Long Bridge. CSRC confiscated gains and ordered a two-year cleanup, with buying prohibited and only selling allowed.

MAY 25·businesstimes.com.sg

China trading curbs may hit HK$250 billion of Hong Kong assets

China’s regulators launched a crackdown on illegal cross-border stock trading to curb capital outflows, targeting brokerages including Futu, Tiger Brokers and Long Bridge Securities, according to the report. Citic Securities estimates up to HK$200–250 billion of Hong Kong assets could be affected, including HK$150–180 billion at Futu and HK$45–50 billion at Tiger. A two-year transition allows selling/withdrawals but bans new purchases and deposits.

$TIGR

China Cracks Down On Offshore Brokers: Tiger Brokers, Longbridge Face Massive Fines

CSRC’s crackdown on cross-border trading involves US$32b in Hong Kong assets: Citic

China trading curbs may hit HK$250 billion of Hong Kong assets

News on $TIGR