TechFlow News, May 22: Upward Rongke (formerly Tiger Brokers) announced on May 22, 2026, that certain of its subsidiaries received a notice from the Beijing Bureau of the China Securities Regulatory Commission (CSRC), indicating that the Beijing Bureau had launched an investigation into the subsidiaries’ alleged illegal activities involving securities, fund, and futures businesses. The investigation found that these subsidiaries engaged in unlicensed cross-border securities business and conducted illegal fund- and futures-related activities within mainland China.
Based on the investigation findings, the Beijing Bureau of the CSRC imposed administrative penalties totaling approximately RMB 308.1 million and confiscated illicit gains amounting to approximately RMB 103.1 million. Mr. Tianhua Wu, Director and Chief Executive Officer of the company and its actual controller, also received a warning and was fined RMB 1.25 million. As of the end of 2025, retail client assets in mainland China accounted for approximately 10% of the company’s total client assets on a consolidated basis. (Jin10 App)
