Enforcement
SinoPac Futures Co., Ltd. Sanctioned for Violation of Laws and Regulations Governing Futures Business
2018-10-30
1.Date the fine was imposed: 30 October 2018
2.Recipient of the fine: SinoPac Futures Co., Ltd. (hereinafter " SinoPac Futures ")
3.Legal basis of the fine: Article 2, paragraph 2 of the Regulations Governing Futures Commission Merchants.
4.Facts of the violation and reasons: SinoPac Futures engages in futures brokerage business with approval from the Financial Supervisory Commission (FSC). The control/check points in the trade servers provided by the Company to Bank SinoPac Co. Ltd. for processing the market maker quotation, however, were not consistent with the internal control systems of the Company. Such facts were found to be in violation of futures regulations.
5.Resulting fine: An administrative fine of NT$240,000 was imposed on SinoPac Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
2.Recipient of the fine: SinoPac Futures Co., Ltd. (hereinafter " SinoPac Futures ")
3.Legal basis of the fine: Article 2, paragraph 2 of the Regulations Governing Futures Commission Merchants.
4.Facts of the violation and reasons: SinoPac Futures engages in futures brokerage business with approval from the Financial Supervisory Commission (FSC). The control/check points in the trade servers provided by the Company to Bank SinoPac Co. Ltd. for processing the market maker quotation, however, were not consistent with the internal control systems of the Company. Such facts were found to be in violation of futures regulations.
5.Resulting fine: An administrative fine of NT$240,000 was imposed on SinoPac Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
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- Update： 2018-11-06
