UP Fintech Holding Limited’s Hong Kong Subsidiary Receives SFC Approval on Type 9 License to Provide Asset Management Services
SINGAPORE, March 27, 2024 (GLOBE NEWSWIRE) — UP Fintech Holding Limited (NASDAQ:TIGR) (“UP Fintech” or the “Company”), a leading online brokerage firm focusing on global investors, today announced that Hong Kong’s Securities and Futures Commission (SFC) has officially granted a Type 9 license to Tiger Brokers (HK) Global Limited (“TBHK”), authorizing TBHK to provide asset management services, including discretionary accounts service to both retail clients and professional investors and asset management service to collective investment schemes offered to professional investors only. Mr. Yang Xu, the Head of Wealth Management business, stated that TBHK’s asset management services will feature a seasoned investment team adept in tactical asset allocation and long-term value investing, crafting bespoke asset allocation strategies for discretionary account retail clients, complemented by a user-friendly platform interface to facilitate wealth accumulation. Additionally, TBHK’s asset management team will provide comprehensive services for Hong Kong investment immigration, along with tailored investment strategies for managed accounts, and is set to offer a multifaceted fund service infrastructure in the future.