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Tiger Brokers Fined 411M Yuan by China Securities Regulator on May 22 for Unauthorized Cross-Border Activities

GateNews
Stocks
According to China's securities regulator, Tiger Brokers (TIGR) and its subsidiaries were fined 411 million yuan (approximately $59.7 million) on May 22 for engaging in unauthorized cross-border securities business and violations related to fund and futures operations within China. The company accepted the penalty and disclosed it as a material event post-Q1. Tiger Brokers stated the one-time expense will not materially impact its operating activities or long-term development, citing strong profitability and cash flow.
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