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Administrative Sanction

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Harvest Securities Investment Consulting Co.,Ltd. and Its Associated Person Yu Sanctioned for Violation of Laws and Regulations Governing Futures Business

1.Date the fine was imposed: 25 May 2017
2.Recipient of the fine: Harvest Securities Investment Consulting Co., Ltd. (Hereinafter referred to as "Harvest SICE") and its associated person Yu (hereinafter " Yu ").
3.Legal basis of the fine: Article 25, Paragraph 1, and Article 26, Paragraph 4 of the Regulations Governing Futures Advisory Enterprises.
4.Facts of the violation and reasons: Harvest SICE is currently engaged in futures advisory business with the approval from the Financial Supervisory Commission (FSC). Yu is an employee of the Company and has not been registered as an associated person for Harvest SICE’s futures advisory business. Yu, however, has been involved in various business activities as an associate, including the explanation of futures products and the explanation of transaction terms and potential risks before the establishment of a futures advisory contract between the company and the customer. All such facts were found to be in violation of futures regulations.
5.Resulting fine: An administrative fine of NT$120,000 was imposed on Harvest SICE pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act; pursuant to Article 101, paragraph 1 of the same Act, Harvest SICE was further ordered to suspend Yu from performing futures advisory business for 1 months.
Visitor: 505   Update: 2017-06-03