Regulator fines UP Fintech (NASDAQ: TIGR) over China operations

Rhea-AI Filing Summary

UP Fintech Holding Limited reports that the CSRC Beijing Bureau has imposed administrative penalties on certain subsidiaries following an investigation into their securities, fund and futures activities in mainland China. The regulator found these entities conducted unlicensed cross-border securities business and illegal activities related to fund and futures business.

The CSRC Beijing Bureau ordered administrative penalties totaling approximately RMB308.1 million and confiscation of illegal income of about RMB103.1 million. The Company’s CEO and controlling person, Mr. Tianhua Wu, received a warning and a RMB1.25 million penalty. As of the end of 2025, retail client assets in mainland China represented about 10% of total client assets. The Company states it accepts the penalties, is fully cooperating with regulators, and will implement required rectification measures while remaining committed to legal compliance.

Positive

• None.

Negative

• Material regulatory penalties and confiscation of income: The CSRC Beijing Bureau imposed administrative penalties of approximately RMB308.1 million and ordered confiscation of illegal income of about RMB103.1 million on certain subsidiaries, reflecting serious regulatory findings in a market that accounted for around 10% of total client assets.

Insights

Regulatory risk analyst

Large CSRC fines and income confiscation create a significant regulatory overhang for UP Fintech.

The CSRC Beijing Bureau concluded an investigation into certain UP Fintech subsidiaries, finding unlicensed cross-border securities and related fund and futures activities in mainland China. It ordered administrative penalties of RMB308.1 million plus confiscation of illegal income of RMB103.1 million, a sizable regulatory charge.

The Company notes that retail client assets in mainland China were about 10% of total client assets as of end 2025, indicating meaningful exposure to this market. The CEO and controlling person also received a warning and RMB1.25 million penalty, underscoring personal regulatory scrutiny. The Company says it accepts the penalties, will implement rectification measures, and is cooperating with authorities; future disclosures in periodic reports may clarify how these penalties and changes affect operations and profitability.

Key Figures

Administrative penalties: RMB308.1 million Confiscation of illegal income: RMB103.1 million CEO personal penalty: RMB1.25 million +2 more

5 metrics

Administrative penalties RMB308.1 million Imposed by CSRC Beijing Bureau on certain subsidiaries

Confiscation of illegal income RMB103.1 million Ordered by CSRC Beijing Bureau

CEO personal penalty RMB1.25 million Warning and penalty to CEO and controlling person Tianhua Wu

Mainland China client assets share 10% of total client assets Retail client assets as of end 2025

Investigation scope Securities, fund and futures business CSRC Beijing Bureau findings on certain subsidiaries

Key Terms

administrative penalties, confiscation of illegal income, unlicensed cross-border securities business, safe harbor, +2 more

6 terms

administrative penalties regulatory

"the CSRC Beijing Bureau has imposed administrative penalties in the aggregate amount"

confiscation of illegal income regulatory

"and confiscation of illegal income in the aggregate amount of approximately RMB103.1 million"

unlicensed cross-border securities business regulatory

"these subsidiaries had conducted unlicensed cross-border securities business and illegal activities"

safe harbor regulatory

"These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act"

Safe harbor is a rule that protects companies or individuals from legal trouble if they follow certain guidelines or procedures. It’s like having a safety net that allows them to act without fear of punishment, as long as they stick to the rules. This helps encourage honest behavior and clear standards in financial and legal activities.

forward-looking statements financial

"This current report on Form 6-K contains forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

online brokerage firm financial

"The Company remains committed to fulfilling its obligations as an online brokerage firm"

Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of May 2026

Commission File Number: 001-38833

UP Fintech Holding Limited

1 Raffles Place, #35-61 One Raffles Place

Singapore (048616)

(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	UP Fintech Holding Limited
	By:	/s/ JOHN FEI ZENG
	Name:	John Fei Zeng
	Title:	Chief Financial Officer
Date: May 22, 2026

2

EXHIBIT INDEX

Exhibit No.		Description
99.1		Press Release — UP Fintech Holding Limited Announces Experiencing an Ongoing Investigation Conducted by CSRC Beijing Bureau

3

Exhibit 99.1

Administrative Penalty by the CSRC

On May 22, 2026, certain subsidiaries of UP Fintech Holding Limited (NASDAQ: TIGR) (the “Company”) received notices from the China Securities Regulatory Commission Beijing Bureau (the “CSRC Beijing Bureau”) indicating that the CSRC Beijing Bureau had initiated an investigation into their suspected illegal operations of securities, fund and futures business, and found that these subsidiaries had conducted unlicensed cross-border securities business and illegal activities relating to the fund and futures business in mainland China. Based on its findings, the CSRC Beijing Bureau has imposed administrative penalties in the aggregate amount of approximately RMB308.1 million and confiscation of illegal income in the aggregate amount of approximately RMB103.1 million. Mr. Tianhua Wu, a director and the CEO and controlling person of the Company, has also received a warning and penalty of RMB1.25 million. As of the end of 2025, retail client assets in mainland China under the Company’s consolidated accounts constituted approximately 10% of the Company’s total client assets.

The Company accepts the penalty with sincerity. The Company is fully cooperating with the regulatory authorities, and will strictly implement the rectification measures required by the authorities. The Company remains committed to fulfilling its obligations as an online brokerage firm and complying with applicable laws and regulations.

Safe Harbor Statement

This current report on Form 6-K contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “may,” “might,” “aim,” “likely to,” “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar statements or expressions. The Company may also make written or oral forward-looking statements in its other periodic reports to the U.S. Securities and Exchange Commission (“SEC”) on Forms 20-F and 6-K, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties, including the earnings conference call. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement. Further information regarding these and other risks is included in the Company’s filings with the SEC, including the Company’s annual reports on Form 20-F filed with the SEC. All information provided herein is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

FAQ

What regulatory action did the CSRC Beijing Bureau take against UP Fintech (TIGR)?

The CSRC Beijing Bureau completed an investigation into certain UP Fintech subsidiaries and imposed administrative penalties plus income confiscation. It found unlicensed cross-border securities business and illegal fund and futures activities in mainland China, leading to substantial financial penalties and mandated rectification measures for the affected entities.

How large are the CSRC penalties and confiscations for UP Fintech (TIGR)?

UP Fintech’s subsidiaries face administrative penalties totaling about RMB308.1 million and confiscation of illegal income of roughly RMB103.1 million. These amounts arise from findings of unlicensed cross-border securities business and illegal fund and futures activities in mainland China by the CSRC Beijing Bureau.

How important is mainland China to UP Fintech’s (TIGR) client asset base?

As of the end of 2025, retail client assets in mainland China under UP Fintech’s consolidated accounts accounted for approximately 10% of the Company’s total client assets. This indicates that regulatory actions in mainland China affect a meaningful, though not dominant, portion of its overall client asset base.

Was UP Fintech’s (TIGR) CEO personally penalized by the CSRC Beijing Bureau?

Yes. The CSRC Beijing Bureau issued a warning and a RMB1.25 million penalty to Mr. Tianhua Wu, UP Fintech’s director, CEO and controlling person. This personal sanction comes alongside the larger corporate penalties and reflects individual regulatory accountability in connection with the investigation’s findings.

How is UP Fintech (TIGR) responding to the CSRC penalties and findings?

UP Fintech states that it accepts the penalties with sincerity, is fully cooperating with the regulatory authorities and will strictly implement required rectification measures. The Company emphasizes its ongoing commitment to fulfilling its obligations as an online brokerage firm and complying with applicable laws and regulations.

What forward-looking statement protections does UP Fintech (TIGR) reference?

UP Fintech notes that its statements about beliefs and expectations are forward-looking and made under the U.S. Private Securities Litigation Reform Act of 1995 safe harbor. It highlights that such statements involve risks and uncertainties, directing readers to its Form 20-F and other SEC filings for detailed risk factors.

Filing Exhibits & Attachments

1 document

Press Releases

• EX-99 EX-99 6.7 KB