Tianfeng Securities announced that the China Securities Regulatory Commission (CSRC) has issued a "Notice of Case Filing" to investigate the company for suspected violations of information disclosure regulations and illegal financing, in accordance with the Securities Law, the Administrative Penalty Law, and other relevant laws and regulations. A non-bank analyst believes that if Tianfeng Securities is ultimately subject to administrative penalties, it will negatively impact the company's business operations and financing, potentially leading to liquidity constraints. Tianfeng Securities previously disclosed that its wholly-owned subsidiary, Tianfeng International Securities & Futures Limited, has obtained approval from the Hong Kong Securities and Futures Commission (SFC) to acquire a Type 3 license related to virtual assets, enabling it to provide virtual asset trading services through integrated account arrangements. (Caixin)
