Why is Tianyi Securities under custody?

Suspected of illegal business operations.

Tianyi Securities, formerly known as Ningbo Securities Company, was founded in 199 1 and changed its name in 200 1. At that time, Tianyi Securities was the largest brokerage firm in Zhejiang. However, on July 7, 2006, China Securities Regulatory Commission decided to carry out administrative liquidation on Tianyi Securities and entrusted Everbright Securities for custody because it was suspected of illegal operation.

SkyoneSecurities Company of Tianyi Securities has a registered capital of100206,000 yuan and is the largest brokerage firm in Zhejiang Province. The company has 8 business departments, 4 regional headquarters, 20 securities business departments and 4 securities service departments, and owns Yuanhe Fund Management Company with more than 500 employees.