Tiger Brokers & Futu

Tiger Brokers: Tiger Brokers, a subsidiary of UP Fintech, was named in the crackdown and faces regulatory penalties, impacting its parent's stock.

Futu: Futu is the primary defendant in multiple securities class actions and faces proposed CSRC penalties of approximately RMB1.85 billion. Its stock fell sharply following the crackdown, and it is exposed to significant legal and regulatory costs.

Tiger Brokers: Online broker penalized by CSRC, parent UP Fintech under investigation.

Futu: Central defendant in multiple securities class actions; faces regulatory penalties and significant stock decline.

Tiger Brokers: Tiger Brokers, a subsidiary of UP Fintech, is directly penalized by the CSRC for operating without an onshore license. The crackdown threatens its business model in China.

Futu: Futu Holdings is one of the online brokers penalized by the CSRC for soliciting business without a license. Its shares also fell significantly on the news.