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Tiger Brokers shares plunge 28% on illegal China activities and $60M fine

An investigation by the CSRC found that Tiger Brokers had conducted unlicensed cross-border securities business in mainland China.

Up Fintech owns the Tiger Brokers online brokerage brand, and is controlled by founder and majority shareholder Wu Tianhua.

Tiger Brokers will also offer $0 brokerage fee for both U.S. and Australian share trades for three months.