Oriental Securities Co., Ltd. Sanctioned for Violation of Laws and Regulations Governing Futures Business
1.Date the fine was imposed: 23 September 2019 2.Recipient of the fine: Oriental Securities Co., Ltd. (hereinafter " Oriental Securities ") 3.Legal basis of the fine: Article 2, paragraph 2 of Regulations Governing Futures Commission Merchants. 4. Facts of the violation and reasons: Oriental Securities engages in futures brokerage business with approval from the Financial Supervisory Commission (FSC). The procedures of client opening accounts and personal information amendment were not handled by appropriate registered account opening personnel. The internal audit is false because the internal auditor failed to find the violation. All such facts were found to be in violation of futures regulations. 5.Resulting fine: An administrative fine of NT$120,000 was imposed on Oriental Securities pursuant to Article 119, paragraph 1 of the Futures Trading Act.