1、Date the fine was imposed: 22 February 2017.
2、Recipient of the fine:Cathay Futures Co.,Ltd (hereinafter " Cathay Futures ")
3、Legal basis of the fine:Article 2, Paragraph 2, and Article 43, paragraph 1 of the Regulations Governing Futures Commission Merchants.
4、Facts of the violation and reasons:Cathay Futures is licensed for operating the futures brokerage business by the Financial Supervisory Commission (FSC). Because of a mistake in adjusting checking system for margin of internet orders, the Cathay Futures accepted trading orders without collecting in full the margins required by the regulations of the futures exchanges on 26 July 2016. This is not in compliance with the internal control system of the company and has constituted a violation of futures regulations.
5、Resulting fine:An administrative fine of NT$120,000 was imposed on Cathay Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.