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Administrative Sanction

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Administrative Fines Imposed on Responsible Person of Phonic Corporation (OTC Company, 3067)

 
1. Date the punishment was imposed: September 29, 2017
2. Recipient of the punishment: Wang, , responsible person of Phonic Corporation
3. Legal basis of the punishment: Paragraph 8, Article 26-3 of the Securities and Exchange Act, and paragraph 2 Article 3, and paragraph 4, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
4. Facts of violation and reasons: 
Phonic Corporation failed to distribute the meeting notices and the meeting minutes, of the Board meeting held on November 10, 2016 to the independent directors and supervisors.  This is found as a violation against paragraph 2, Article 3, and paragraph 4, Article 17 of the Regulations Governing Procedure for Board of Directors Meetings of Public Companies.
5. The disciplinary action: Responsible person of the violation by Phonic Corporation is charged with a punishment of an administrative fine of NTD 240,000 pursuant to sub-paragraph 7, paragraph 1, Article 178, and paragraph 1, Article 179 of the Securities and Exchange Act.
 
Contact Office: Lin, Section Chief, Chia Chang, Corporate Finance Division, Securities and Futures Bureau
 
Visitor: 102   Update: 2017-10-05