1. Date the penalty was imposed: 25 December 2012 (passed in the FSC''s 26th Business Meeting)
2. Recipient of the penalty: Capital Investment Trust Corp. and a former fund manager Tsai XX.
3. Legal basis of the penalty: Article 77, paragraphs 1 and 2, Article 103, subparagraph 1, Article 104, and Article 111, subparagraph 7 of the Securities Investment Trust and Consulting Act, and Article 13, paragraph 2, subparagraph 1 of the Regulations Governing Responsible Persons and Associated Persons of Securities Investment Trust Enterprises.
4. Facts of the violation and reasons: Tsai XX, a former fund manager of Capital Investment Trust Corp., using his spouse''s securities account, conducted trading of several of the same stocks as those in the fund that Tsai managed, based on information that he learned of in the course of his duties, yet failed to file any report, thus violating laws related to the governance of securities investment trust. Tsai was still under employment when the FSC issued a 1 November 2012 Letter No. Financial-Supervisory-Securities-SITC-1010051765 to request The Securities Investment Trust and Consulting Association of the R.O.C. (SITCA) to notify all securities investment trust enterprises to conduct inspections on their initiatives. Capital Investment Trust Corp., however, failed to actively cooperate with the inspection and to properly supervise Tsai for such violations, which constituted an obvious deficiency.
5. Results of penalty:
 (1) The FSC ordered Capital Investment Trust Corp. to dismiss Tsai from duties as a fund manager, pursuant to Article 104 of the Securities Investment Trust and Consulting Act.
 (2) Capital Investment Trust Corp. was issued a warning and an administrative fine of NT$1.2 million pursuant to Article 103, subparagraph 1 and Article 11, subparagraph 7 of the Securities Investment Trust and Consulting Act. Capital Investment Trust Corp. was prohibited from applying with the FSC to conduct investments in foreign enterprises or establish any branch units within three months, to apply to conduct discretionary investment services and serve as a master agent of an offshore fund within half a year, and to conduct offerings or follow-up offerings of securities investment trust funds within at least the following six months.