On 25 November 2022, the Financial Supervisory Commission (“FSC”) held the 2022 Awards Ceremony to praise 8 securities firms and 4 futures firms for their excellent performance on implementation of Treating Customer Fairly Principle (TCFP). The FSC Chairperson, Dr. Tien-Mu Huang, attended the Ceremony and presented the awards in person. 

The FSC conducted the second-round of TCFP assessment on the securities firms and futures firms. According to the assessment result, the FSC awarded to the following winners, which are the top 25% performers, in recognition of their best performance on TCFP implementation (presented in no particular order):
(1)    Securities firms: Fortune Securities Co., Ltd., Chung Nourn Securities Co., Ltd., Yung Chuan Securities Co., Ltd., Pei Cheng Securities Co., Ltd., CL Securities Taiwan Co., Ltd., BNP Paribas Securities (Taiwan) Co., Ltd., Ying Yi Securities Co., Ltd., and Far Eastern International Securities Co., Ltd. The best progress award winner is Chung Nourn Securities Co., Ltd.
(2)    Futures firms: Yuanta Futures Co., Ltd., Masterlink Futures Corp., Ltd., Mega Futures Co., Ltd., and Cathay Futures Co ., Ltd. The best progress award winner is Capital Futures Corp., Ltd.
In addition, the Securities and Futures Bureau (SFB) also addressed the firms’ overall strengths and weaknesses found in the assessment process and proposed practical advices for them. The awarded firms were also invited to speak and share experience with their peers.

The FSC stated that the awarded winners had a lot of moves in common. In particular, their board of directors attach the importance of TCFP compliance and advance the best practices as follows:
(1)    Members of the board of directors put forward specific suggestions, such as optimizing investor education to raise anti-fraud awareness, interviewing with clients and enhancing information disclosure in response to customer needs, proposing a concise and robust customer dispute handling process, and increasing significant budget in cybersecurity.
(2)    Firms formulated the whistleblower protection system, implemented  the conflict of interest and recusal mechanism; categorized the customer disputes handling process in a differentiated manner; offered customer-friendly services, such as maintaining accessible facilities, auxiliary guide maps, and multiple order services; subsidized employees to learn sign language; senior executives met customers in person to resolve disputes in a short time; attached importance on sustainable development, such as employee education in gender equality and electric car replacement.  

The FSC has announced to continue the TCFP assessment in 2023. The major changes of the assessment in 2023 include that large-scale full-licensed securities firms with a paid-in capital more than NT$10 billion will be assessed annually, and two more principles, "Friendly Service Principles" and "Principles of Integrity Management", will be added. The FSC urges the securities and futures firms to take active actions and implement innovative measures to enhance their customer protection.