Core Viewpoint - Tiger Brokers is accused of illegally developing new clients in mainland China and opening new accounts through fraudulent means, which the company denies, asserting its commitment to compliance and legal operations [1][2]. Group 1: Company Operations and Compliance - Tiger Brokers claims to have fully implemented the 2022 rectification requirements from the China Securities Regulatory Commission (CSRC) and has ceased providing account opening services to new users in mainland China [2][3]. - The company emphasizes that its operations are strictly within the regulatory framework of the regions where it holds licenses, including Hong Kong, Singapore, the United States, Australia, and New Zealand [1][2]. - The company has stated that it will continue to provide necessary support and technical services to existing compliant clients in mainland China [2]. Group 2: Financial Performance - In 2024, Tiger Brokers reported a 43.7% year-on-year increase in total revenue, reaching $392 million, and a 65% increase in net profit attributable to shareholders, amounting to $70.5 million [2]. - The trading volume and commissions for 2024 saw significant increases of 196% and 66% respectively [2]. Group 3: Regulatory Background - The CSRC has previously expressed its regulatory stance against cross-border securities business conducted by foreign institutions, including Tiger Brokers, indicating that such activities do not comply with Chinese laws [3]. - In late 2022, the CSRC mandated that Tiger Brokers and similar firms cease illegal business activities and manage existing clients in a compliant manner [3].

Group 1 - The core issue involves Tiger Brokers allegedly violating regulations by falsifying documents to onboard new clients from mainland China despite being previously identified as operating illegally by the China Securities Regulatory Commission (CSRC) [1][2] - Tiger Brokers is reportedly recruiting extensively across multiple cities in China for various roles, including front-office positions in securities brokerage, investment banking, and asset management, as well as back-office roles in human resources, finance, administration, technology, customer service, and operations [1] - In response to the allegations, Tiger International has issued a statement claiming that the information is severely misleading and constitutes malicious defamation, asserting that the company will take necessary legal actions to protect its rights [1] Group 2 - Tiger International was established in 2014 and is headquartered in Singapore, holding 77 licenses and qualifications across major financial markets globally [2] - The CSRC announced in December 2022 that Tiger Brokers and Futu Holdings were conducting cross-border securities business targeting domestic investors without approval, which constitutes illegal operations under relevant laws [2] - In May 2023, Tiger International announced adjustments to its client update process in response to CSRC's requirements, including the removal of its app from domestic app stores [2]