Administrative Fine Imposed on the Responsible Person of Long Bon International Co., Ltd. (Listed Company, Securities Code: 2514)
2017-09-21
1. Date the fine was imposed: September 21, 2017
2. Recipient of the fine: Lin XX, responsible person of Long Bon International Co., Ltd.
3. Legal basis of the fine: Article 36-1 of the Securities and Exchange Act and Article 30, Paragraph 1 ,Subparagraph 3 ,and Article 33, paragraph 1 of Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: Everwin Investment Co., Ltd., a subsidiary of Long Bon International Co., Ltd., has been engaged in financial derivative trading. On May 31, June 30 and August 15, 2017, respectively, the company has encountered a loss from the derivative transactions. The loss in each individual contract has reached the maximum loss limit prescribed in the relevant procedural guidelines. However, Long Bon International Co., Ltd. did not announce the fact on the Market Observation Post System (MOPS) on behalf of its subsidiary until August 18, 2017. This constitutes a violation of Sub-paragraph 3, Paragraph 1 of Article 30 and Paragraph 1, Article 33 of the “Regulations Governing the Acquisition and Disposal of Assets by Public Companies” where public companies are required to announce such information within two days after the occurrence of the fact.
5. Resulting fine: According to Article 178, paragraph 1, subparagraph 7 and Article 179 , paragraph 1of the Securities and Exchange Act, we impose a fine of NT$ 240,000 on the responsible person of Long Bon International Co., Ltd.
2. Recipient of the fine: Lin XX, responsible person of Long Bon International Co., Ltd.
3. Legal basis of the fine: Article 36-1 of the Securities and Exchange Act and Article 30, Paragraph 1 ,Subparagraph 3 ,and Article 33, paragraph 1 of Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
4. Facts of the violation and reasons: Everwin Investment Co., Ltd., a subsidiary of Long Bon International Co., Ltd., has been engaged in financial derivative trading. On May 31, June 30 and August 15, 2017, respectively, the company has encountered a loss from the derivative transactions. The loss in each individual contract has reached the maximum loss limit prescribed in the relevant procedural guidelines. However, Long Bon International Co., Ltd. did not announce the fact on the Market Observation Post System (MOPS) on behalf of its subsidiary until August 18, 2017. This constitutes a violation of Sub-paragraph 3, Paragraph 1 of Article 30 and Paragraph 1, Article 33 of the “Regulations Governing the Acquisition and Disposal of Assets by Public Companies” where public companies are required to announce such information within two days after the occurrence of the fact.
5. Resulting fine: According to Article 178, paragraph 1, subparagraph 7 and Article 179 , paragraph 1of the Securities and Exchange Act, we impose a fine of NT$ 240,000 on the responsible person of Long Bon International Co., Ltd.
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Update：
2017-09-25