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Yuanta Securities Investment Trust Co., Ltd. Sanctioned for Violation of Laws and Regulations Governing Futures Business

1.Date the fine was imposed: January 21, 2021
2.Recipient of the fine: Yuanta Securities Investment Trust Co., Ltd. (hereinafter " Yuanta ")
3.Legal basis of the fine: Article 6, paragraph 1 of Regulations Governing Futures Trust Enterprises. Article 4, paragraph 1, subparagraph 3, Article 6, paragraph 2, and Article 33 of the Regulations Governing the Establishment of Internal Control Systems by Service Enterprises in Securities and Futures Markets, and Article 119, paragraph 1, subparagraph 2 of Futures Trading Act.
4.Facts of the violation and reasons: The FSC conducted a business inspection on the concurrent futures trust business of Yuanta, and found that the design and implementation of Yuanta’s internal control system were not effective when the additional offering allocation business of futures trust funds was operated. Resulting in the violation of the laws and regulations.
5.Resulting fine: 
(1)An administrative fine of NT$360,000 was imposed on Yuanta pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
(2)In accordance with Article 33 of the Regulations Governing the Establishment of Internal Control Systems by Service Enterprises in the Securities and Futures Markets, the FSC orders Yuanta to make improvements within a prescribed time limit and appoint non-engagement CPAs to conduct a special audit of its internal control system and obtain an audit report.
 
Visitor: 703   Update: 2021-02-03