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].