The China Securities Regulatory Commission has initiated an investigation into TigerBrokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, Cheung Chiu Securities (Hong Kong) Limited, and related entities for illegal domestic securities business operations, intending to confiscate illegal gains and impose penalties according to law. The relevant entities have the right to make statements, defend themselves, and request hearings. Additionally, related U.S. stock companies experienced a rapid decline in pre-market trading, with TIGR.O dropping over 10% and FUTU.O falling over 5%.

DeepFlowTech

2026-05-22 08:28:45

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Deep Tide TechFlow News: On May 22, the China Securities Regulatory Commission (CSRC) filed a case and conducted an investigation into TigerBrokers (NZ) Limited, Futu Securities International (Hong Kong) Limited, and Changqiao Securities (Hong Kong) Limited, along with related entities both inside and outside the mainland, for acts including conducting illegal securities business operations within the mainland in accordance with law, and issued a prior notice of administrative penalties: The CSRC stated that the related entities of Tiger, Futu, and Changqiao both inside and outside the mainland conducted securities trading marketing and promotional activities within the mainland, processed transaction instructions, and other relevant securities business services, and obtained related gains without approval from the CSRC and without obtaining licenses to operate securities brokerage business or securities financing and margin trading (securities lending and margin trading) business. This violates the provisions of Article 120 of the Securities Law and constitutes illegal securities business operations. Pursuant to the provisions of Article 202 of the Securities Law, Article 136 of the Securities Investment Fund Law, and Article 132 of the Futures and Derivatives Law, the CSRC intends to confiscate all illegal gains of the related entities of Tiger, Futu, and Changqiao, both inside and outside the mainland, and impose severe penalties in accordance with law. Regarding the administrative penalties to be imposed on the parties, the parties have the right to state their views, make defenses, and request a hearing. The CSRC will fully listen to the parties’ opinions and then, in accordance with law, make an administrative penalty decision.

Up Fintech (TIGR.O) and Futu Holdings (FUTU.O) in U.S. stocks fell rapidly before the market opened. Up Fintech (TIGR.O) dropped by more than 10%, while Futu Holdings (FUTU.O) fell by more than 5%.

FUTU-0.41%

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