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Sanction on SinoPac Futures Co., Ltd. for Violation of Laws and Regulations Governing Futures Business

2021-12-16
1.    Date the fine was imposed: December 16, 2021 
2.    Recipient of the fine: SinoPac Futures Co., Ltd. (hereinafter " SinoPac Futures ") 
3.    Legal basis of the fine: Article 2, paragraph 2 of the Regulations Governing Futures Commission Merchants. 
4.    Facts of the violation and reasons: SinoPac Futures has the incidents that its futures trader failed to test the API before placing an order for the first time and it transferred the real-time information to traders for non-disclosure use without the consent of the Taiwan Futures Exchange. These are non-compliant with the provisions of the firm's internal control system and are verified to have violated the futures management laws and regulations.
5.    Resulting fine: An administrative fine of NT$240,000 was imposed on SinoPac Futures in accordance with subparagraph 2, paragraph 1, Article 119 of the Futures Trading Act.
 
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  • Update: 2021-12-23
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