Hong Kong's Paul Chan stated that Beijing's recent investigation into three brokerages—Futu Securities, Tiger Brokers, and Long Bridge—was partly motivated by concerns over foreign exchange 'leakage' and the need to protect mainland China's retail investors.

Tiger Brokers announced a 17.5 percent year-on-year jump in first-quarter operating profit, with no mention of the looming punishment from China’s securities regulator over alleged unlicensed cross-border trading services.

Chinese regulators are investigating 'illegal' brokers, including Tiger Brokers, for conducting securities-related business in China without the necessary approvals or licenses as part of a cross-border trade crackdown.

Chinese regulators have recently tightened scrutiny on offshore brokerages, including Futu and Tiger Brokers, making it harder for individual investors to access U.S. stocks and potentially benefiting other market players.

China's securities regulator has initiated enforcement actions against Futu, Tiger Brokers, and Longbridge Securities to close offshore stock-trading channels utilized by mainland investors.

Tiger Brokers announced its decision to suspend investors in mainland China from adding new positions, impacting their trading activities.