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Administrative Sanction

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Former Associated Person Lu of KGI Futures Co.,Ltd. Sanctioned for Violation of Laws and Regulations Governing Futures Business



1.Date the fine was imposed: 30 March 2017
2.Recipient of the fine: former associated person Lu (hereinafter " Lu ") of KGI Futures Co.,Ltd. (hereinafter " KGI Futures ")
3.Legal basis of the fine: Article 55, subparagraph 7 of the Regulations Governing Futures Commission Merchants. Article 16, paragraph 2 of Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants.
4.Facts of the violation and reasons: KGI Futures engages in futures brokerage business with permission from the Financial Supervisory Commission (FSC). Lu, who was registered as the associated persons for brokerage trading in the Taichung Branch of KGI Futures, acted for the futures trader for remittance, handled the passbook of the futures trader and had the withdrawals stamped with the original seal. This fact was found to be in violation of futures regulations.
5.Resulting fine: KGI Futures is ordered to suspend Lu from executing futures business for one month pursuant to Paragraph 1, Article 101 of the Futures Trading Act.
Visitor: 697   Update: 2017-04-05