The China Securities Regulatory Commission (CSRC) has initiated an investigation into Tianfeng Securities after the company received a notice of inquiry, citing suspected violations of information disclosure regulations and illegal financing practices. The investigation, based on the Securities Law and Administrative Penalty Law, aims to determine the extent of these alleged violations. An independent analyst predicts that if penalized, this could significantly disrupt Tianfeng Securities’ business operations and hinder its ability to secure future funding, potentially leading to liquidity challenges. Previously, Tianfeng Securities subsidiary, Tianfeng International Securities and Futures Limited, secured approval from the Hong Kong Securities and Futures Commission to offer virtual asset trading services through omnibus account arrangements.