MasterLink Futures Co., Ltd and its employees Sanctioned for Violation of Laws and Regulations Governing Futures Business
2017-08-09
1. Date the fine was imposed: 9 August, 2017.
2. Recipient of the fine: MasterLink Futures Co., Ltd (hereinafter referred as MasterLink Futures) and its employees Mr. Chang.
3. Legal basis of the fine: Article 2, paragraph 2 of the Regulations Governing Futures Commission Merchants and Article 16, paragraph 2, subparagraph 13 of the Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants.
4. Facts of the violation and reasons: MasterLink Futures is approved by the FSC to engage the futures brokerage business. When it conducted the pre-account opening procedures outside the place of business for the customer, its employees Mr. Chang (the supervisor in charge of account-opening business) allowed the associated person of brokerage trading business to engage the account opening procedures independently at the place neighboring customer’s home and the associated person of account opening was not jointly conducted above procedures there. Therefore, MasterLink Futures and its employees Mr. Chang have violated the laws and regulations governing futures business.
5. Resulting fine: MasterLink Futures is imposed an administrative fine of NTD120,000 and is ordered to suspend its employees Mr. Chang from executing futures business for one month in accordance with Article 119, paragraph 1, subparagraph 2 and Article 101, paragraph 1 of the Futures Trading Act, respectively.
2. Recipient of the fine: MasterLink Futures Co., Ltd (hereinafter referred as MasterLink Futures) and its employees Mr. Chang.
3. Legal basis of the fine: Article 2, paragraph 2 of the Regulations Governing Futures Commission Merchants and Article 16, paragraph 2, subparagraph 13 of the Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants.
4. Facts of the violation and reasons: MasterLink Futures is approved by the FSC to engage the futures brokerage business. When it conducted the pre-account opening procedures outside the place of business for the customer, its employees Mr. Chang (the supervisor in charge of account-opening business) allowed the associated person of brokerage trading business to engage the account opening procedures independently at the place neighboring customer’s home and the associated person of account opening was not jointly conducted above procedures there. Therefore, MasterLink Futures and its employees Mr. Chang have violated the laws and regulations governing futures business.
5. Resulting fine: MasterLink Futures is imposed an administrative fine of NTD120,000 and is ordered to suspend its employees Mr. Chang from executing futures business for one month in accordance with Article 119, paragraph 1, subparagraph 2 and Article 101, paragraph 1 of the Futures Trading Act, respectively.
Visitor：
13538
Update：
2017-08-18