On September 24, a news flash from the financial front reported that the administrative penalty information disclosure list of the National Financial Regulatory Administration showed that SPDB Wealth Management was fined and confiscated a total of 9.1222 million yuan by the NFRA due to incomplete identification of related parties and liquidity risk indicators failing to meet regulatory requirements, among other issues.

The relevant responsible person, Tan Jianren, was given a warning and fined 60,000 yuan.