The Punishment of Administrative Fine imposed on the Responsible Person of Arima Communications Corp. (Public Company, Stock Code 8101)
2017-07-14
1. Date the punishment was imposed: July 14, 2017
2. Recipient of the punishment: Mr. Li, ○○, Responsible person of the conduct by Arima Communications Corp.
3. Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, paragraph 3, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: Kuanju Investment Limited, the subsidiary of Arima Communications Corp., had acquired stocks in 2016 and the first quarter 2017. However, the subsidiary did not have the relevant procedures on the acquisition and disposal of assets in place upon the acquisition. It is therefore determined as a violation against paragraph 3, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies, in which the parent company is obliged to supervise the creation and enforcement of the procedures on the acquisition and disposal of assets by its subsidiaries.
5. The disciplinary action: Responsible person of the conduct by the Company is charged with a punishment of an administrative fine of NTD 240 thousand pursuant to subsection 7, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange Act.
Contact Office: Chang, Yi-hsin, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Numbers: 2774-7409
Please send your inquiry to: http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
2. Recipient of the punishment: Mr. Li, ○○, Responsible person of the conduct by Arima Communications Corp.
3. Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, paragraph 3, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: Kuanju Investment Limited, the subsidiary of Arima Communications Corp., had acquired stocks in 2016 and the first quarter 2017. However, the subsidiary did not have the relevant procedures on the acquisition and disposal of assets in place upon the acquisition. It is therefore determined as a violation against paragraph 3, Article 7 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies, in which the parent company is obliged to supervise the creation and enforcement of the procedures on the acquisition and disposal of assets by its subsidiaries.
5. The disciplinary action: Responsible person of the conduct by the Company is charged with a punishment of an administrative fine of NTD 240 thousand pursuant to subsection 7, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange Act.
Contact Office: Chang, Yi-hsin, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Numbers: 2774-7409
Please send your inquiry to: http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
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13648
Update：
2017-07-19