The results are out: Tiger Brokers was fined 308.1 million RMB, with 103.1 million RMB of illegal gains confiscated, and the CEO fined 1.25 million RMB. Futu was fined 1.85 billion RMB, and the CEO personally fined 1.25 million RMB. These are all preliminary notifications for now, and the regulatory investigation has officially begun.