Tianfeng Securities Faces Investigation by Regulatory Authorities

According to ChainCatcher, Tianfeng Securities has announced that the China Securities Regulatory Commission (CSRC) has issued a 'Notice of Investigation' due to alleged violations related to information disclosure and illegal financing. The CSRC has decided to investigate Tianfeng Securities based on the Securities Law and Administrative Penalty Law. A non-bank analyst suggests that if Tianfeng Securities is ultimately subjected to administrative penalties, it could negatively impact the company's business operations and financing, potentially leading to liquidity challenges. Previously, Tianfeng Securities disclosed that its wholly-owned subsidiary, Tianfeng International Securities and Futures Limited, had received approval from the Hong Kong Securities and Futures Commission to obtain a third-class license related to virtual assets, allowing it to offer virtual asset trading services through comprehensive account arrangements.