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Disciplinary Action on SinoPac Securities Co., Ltd. for Violation of Securities Management Laws and Regulations

1. Date of disciplinary action: December 15, 2020
2. Object of disciplinary action: SinoPac Securities Co., Ltd. (hereinafter referred to as SinoPac Securities)
3. Legal basis for the disciplinary action: Article 65 and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act, and paragraph 2, Article 2 of the Regulations Governing Securities Firms.
4. Fact of law violation: SinoPac Securities failed to immediately report via the information security notification system after becoming aware of the leakage of a customer’s personal data, failed to verify the customer’s account opening information, did not fully test the e-mail program of the electronic delivery system for account opening contract before it went live, and failed to review and control outgoing e-mails that contain personal data; these are verified to have violated paragraph 2, Article 2 of the Regulations Governing Securities Firms.
5. Disciplinary action imposed: A fine of NT$480,000 is imposed on SinoPac Securities in accordance with subparagraph 4, paragraph 1, Article 178-1 of the of the Securities and Exchange Act, and a correction is required in accordance with Article 65 of the same Act.
 
Visitor: 436   Update: 2021-02-08