SinoPac Futures Co., Ltd. Sanctioned for Violation of Laws and Regulations Governing Futures Business
2017-07-26
1.Date the fine was imposed: 26 July 2017
2.Recipient of the fine: SinoPac Futures Co., Ltd. (hereinafter " SinoPac 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: SinoPac Futures engages in futures brokerage business with approval from the Financial Supervisory Commission (FSC). The company has erred in the computation of margins on December 22 and 29, 2016, and the SinoPac Futures accepted trading orders without collecting in full the margins required by the regulations of the futures exchanges. In addition, the margins computation of SinoPac Futures’s trading host failed to implement proper internal control systems. Such facts were found to be in violation of futures regulations.
5.Resulting fine: An administrative fine of NT$240,000 was imposed on SinoPac Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
2.Recipient of the fine: SinoPac Futures Co., Ltd. (hereinafter " SinoPac 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: SinoPac Futures engages in futures brokerage business with approval from the Financial Supervisory Commission (FSC). The company has erred in the computation of margins on December 22 and 29, 2016, and the SinoPac Futures accepted trading orders without collecting in full the margins required by the regulations of the futures exchanges. In addition, the margins computation of SinoPac Futures’s trading host failed to implement proper internal control systems. Such facts were found to be in violation of futures regulations.
5.Resulting fine: An administrative fine of NT$240,000 was imposed on SinoPac Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
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Update：
2017-08-02