UP Fintech's response to regulatory update in China

TigerBrokers
2022-12-30

UP Fintech Holding Limited (hereafter “UP Fintech”, or the “company”) has noticed the announcement from the China Securities Regulatory Commission, requiring the company to stop accepting new investors from mainland China as new customers.

UP Fintech has been strictly abiding by relevant laws and regulations in its daily operations, in an effort to maintain its high compliance standards in all the global markets where it operates. As of now, the company holds 63 financial licenses and qualifications worldwide in markets including Singapore, New Zealand, Hong Kong, Australia, and the US; with over 90% of the company’s new customers also from these locations.

Moving forward, UP Fintech will continuously offer legitimate services to existing onshore customers in mainland China. While actively cooperating with the regulators, the company will take corrective measures to stop enrolling new onshore customers. The company also confirms that its global business outside of mainland China will not be impacted.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
10
4