Enforcement
FSC fines Taiwan Branch of Cardif Assurance Vie
2020-10-06
The FSC recently imposed an administrative fine of NT$1 million on the Taiwan Branch of Cardif Assurance Vie after discovering that the branch had failed to carry out careful evaluations in the conduct of its overseas investment operations, with the result that the total amount of its overseas investments exceeded the statutory ceiling, in violation of Article 146-4, Paragraph 2 of the “Insurance Act,” which requires that the amount of an insurance enterprise‘s foreign investments must not exceed the cap set by the competent authority. The amount of the fine was set in accordance with the provisions of Article 168, Paragraph 5, Subparagraph 5 of the “Insurance Act.”
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- Update： 2020-11-09
