Punishment of Administrative Fine imposed on the Person Responsible for Conduct by SWANCOR Industrial Co., Ltd.
2017-07-24
1. Date the punishment was imposed: July 24, 2017.
2. Recipient of the punishment: Mr. Tsai, ○○, person Responsible for the conduct by SWANCOR Industrial Co., Ltd.
3. Legal basis of the punishment: Paragraph 8, Article 26-3, subsection 7, paragraph 1, Article 178, and paragraph 1, Article 179 of the Securities and Exchange Act, and paragraph 1, Article 16, and subsection 7, paragraph 1, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
4. Facts of the violation and reasons: SWANCOR Industrial Co., Ltd. was a public company during the year of 2015. On January 23, 2015, the board meeting of the Company resolved on the bonus and remuneration of the officers. In the meeting, the director who concurrently served as the officer had a conflict of interest with regard to the discussion at that meeting, but failed to disclose the substance of such conflict of interest. Also, the Company failed to specify the name of the interested director, and the significant substance of the relation of the stakeholder, reasons for recusal or non-recusal, and the state of recusal in the minutes of that board meeting. It is therefore determined as a violation against paragraph 1, Article 16, and subsection 7, paragraph 1, Article 17 of the Regulations Governing the Procedure for Board of Directors Meetings of Public Companies.
5. The disciplinary action: The person responsible for the conduct by the Company is charged with a punishment of an administrative fine of NTD240,000 pursuant to subsection 7, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange Act.
Contact Office: Lin, Chia-chang, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Person: 2774-7115
Please send your inquiry to:
http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
2. Recipient of the punishment: Mr. Tsai, ○○, person Responsible for the conduct by SWANCOR Industrial Co., Ltd.
3. Legal basis of the punishment: Paragraph 8, Article 26-3, subsection 7, paragraph 1, Article 178, and paragraph 1, Article 179 of the Securities and Exchange Act, and paragraph 1, Article 16, and subsection 7, paragraph 1, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
4. Facts of the violation and reasons: SWANCOR Industrial Co., Ltd. was a public company during the year of 2015. On January 23, 2015, the board meeting of the Company resolved on the bonus and remuneration of the officers. In the meeting, the director who concurrently served as the officer had a conflict of interest with regard to the discussion at that meeting, but failed to disclose the substance of such conflict of interest. Also, the Company failed to specify the name of the interested director, and the significant substance of the relation of the stakeholder, reasons for recusal or non-recusal, and the state of recusal in the minutes of that board meeting. It is therefore determined as a violation against paragraph 1, Article 16, and subsection 7, paragraph 1, Article 17 of the Regulations Governing the Procedure for Board of Directors Meetings of Public Companies.
5. The disciplinary action: The person responsible for the conduct by the Company is charged with a punishment of an administrative fine of NTD240,000 pursuant to subsection 7, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange Act.
Contact Office: Lin, Chia-chang, Section Chief, Securities and Futures Bureau Corporate Finance Division
Contact Person: 2774-7115
Please send your inquiry to:
http://fscmail.fsc.gov.tw/FSC-SPS/SPSB/SPSB01002.aspx
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13492
Update：
2017-07-31