[Tiger Brokers: Subsidiaries fined RMB 308.1 million by Beijing Regulatory Bureau for conducting unlicensed cross-border securities business and other illegal activities in China] BlockBeats News, May 22 — Up Fintech Holding Limited (formerly Tiger Brokers) announced that on May 22, 2026, certain subsidiaries of the company received a notice from the Beijing Regulatory Bureau of the China Securities Regulatory Commission (CSRC), indicating that the bureau had launched an investigation into their suspected illegal activities related to securities, funds, and futures businesses. The investigation revealed that these subsidiaries engaged in unlicensed cross-border securities business and fund and futures-related illegal activities within mainland China. Based on the findings, the Beijing Regulatory Bureau of the CSRC imposed administrative penalties totaling approximately RMB 308.1 million and confiscated approximately RMB 103.1 million in illegal gains. The company's director, CEO, and actual controller, Mr. Wu Tianhua, 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 according to the consolidated financial statements. (Jin10)