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Tianfeng Securities: fined 15 million yuan for suspected violations of information disclosure laws and regulations, and illegal provision of financing
Tianfeng Securities Announcement: The company received an “Administrative Penalty Decision” issued by the Hubei Regulatory Bureau of the China Securities Regulatory Commission for suspected violations of information disclosure and illegal financing. According to the penalty decision, Tianfeng Securities was given a warning and fined 15 million yuan. Several senior executives, including then-Chairman Yu Lei and Vice President and CFO Xu Xin, were also warned and fined for illegal activities, with Yu Lei and Xu Xin being subject to lifetime market bans.