I.    Date of sanction: February 22, 2023
II.    Object of sanction: Horizon Securities Co., Ltd. (hereinafter referred to as “Horizon Securities”) and XX Tsai, the firm’s former associated person entrusted for trading.
III.    Legal basis for the sanction: Article 56 and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act, paragraph 2, Article 2 and subparagraph 5, 11 and 18, Article 37 of the Regulations Governing Securities Firms, and subparagraph 3, 11 and 17, paragraph 2 and paragraph 3, Article 18 of the Regulations Governing Responsible Persons and Associated Persons of Securities Firms. 
IV.    Facts of violation: The Taiwan Stock Exchange Corporation conducted an audit of the Taichung Branch of Horizon Securities on April 25, 2022, and found the following violations that XX Tsai, a former associated person entrusted for trading, kept customers' passbooks on their behalf, carried and used a laptop which was provided by a customer without the permission of the firm to the business site, and placed orders on behalf of customers, and accepted customers' discretionary authorization to trade securities without the prices designated by customers; in addition, Horizon Securities did not implement its internal control system.
V.    Sanction imposed:
(I)    On the firm part: A fine of NT$240,000 is imposed on Horizon Securities in accordance with subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act.
(II)    On the personnel part: Horizon Securities is ordered to suspend the business execution of XX Tsai, the former associated person entrusted for trading, for 6 months in accordance with Article 56 of the Securities and Exchange Act.