Tiger Brokers fined by China Securities Regulatory Commission for illegal activities
Tiger Brokers, which also operates in New Zealand, has been fined by the China Securities Regulatory Commission (CSRC) for illegal activities. RNZ reports the decision comes against a backdrop of recently tightened regional regulatory scrutiny.
According to RNZ Business, Tiger Brokers — which also operates in New Zealand — has been fined by the China Securities Regulatory Commission (CSRC) for illegal activities. The CSRC statement noted that marketing outside the regulatory framework and unregistered brokerage activities had been identified; the fine amount and enforcement scope are detailed in the official notice.
The decision comes amid recently tightened Chinese regulatory scrutiny of cross-border brokerage activity. New Zealand's Financial Markets Authority (FMA) recalled that the local subsidiary's client assets are segregated and said it is assessing the operational impact on the NZ side. ASIC and MAS are also expected to issue parallel regional statements.
Watch: enforcement detail in the full CSRC ruling, any possible independent FMA review, voluntary compliance disclosures from Tiger Brokers, and the regional regulator information-sharing process. None of the above is investment advice.
Read next
One dead, five injured after shooting in central Israel
According to the BBC, a shooting in central Israel left one person dead and five injured. Details of the incident and the attacker's identity are under investigation, on what is already a tense security day in the country.
Why one fund manager is nervous about the SpaceX listing — but Kiwis will likely still get a slice
Friendship or leverage: why is Xi Jinping going to North Korea?
South Africa's president unveils crackdown on illegal migration
Counting underway in Armenia's pivotal vote for South Caucasus future
