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Shin Kong Life Insurance Co., Ltd. was fined

When the FSC carried out an ordinary inspection of businesses, i t found that Shin Kong Life Insurance was in violation of the Insurance Act and related regulations when handling interested party transactions, procurement operations, funds utilization, financial asset valuation, and telephone marketing fee collection. As a result, the FSC imposed a fine of NT$6 million on the company in accordance with Article 149, 168 and 171-1 of the Insurance Act and issued 16 reprimands. Shin Kong Life Insurance was also prohibited from trading in stocks issued by interested parties using the after-hours fixed-price trading and large amount pairs trading for two years.
Visitor: 843   Update: 2019-04-01