I.     Date of sanction: February 5, 2024
II.     Objects of sanction: SinoPac Securities Co., Ltd. (hereinafter referred to as SinoPac Securities) and its associate person XX Chang.
III.     Legal basis for the sanctions: Subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act, paragraph 2, Article 2 and paragraph 5, Article 37 of the Regulations Governing Securities Firms, and subparagraphs 3 and 13, paragraph 2, Article 18 of the Regulations Governing Responsible Persons and Associated Persons of Securities Firms at the time of the acts.
IV.     Facts of violation: the Taiwan Stock Exchange Corporation (hereinafter referred to as TWSE) conducted an inspection on Dunbei Branch, SinoPac Securities together with the Taiwan Securities Association on February 20 and 21, 2023, and found that XX Chang, its associate person, had the facts of accepting passwords from customers to invest in US stocks and overseas bonds and funds with full discretion through electronic order placement and failing to purchase Indian Bull bonds according to customer instructions.
V.     Sanctions imposed: A fine of NT$480,000 is imposed on SinoPac Securities in accordance with subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act at the time of the acts, and SinoPac Securities is ordered to suspend the business execution by XX Chang, its associate person for nine months in accordance with Article 56 of the same Act.
Contact unit: Section Chief Lo, Securities Firm Management Group, Securities and Futures Bureau
Tel: (02) 2774-7286
If you have any questions, please write to mail