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Administrative Sanction

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Administrative Fine imposed on the representative of Tsec Corporation.

 
I. Date the fine was imposed: October 24, 2017
II. Recipient of the fine : Representative of the conduct by Tsec Corporation., Mr. Liao 
III. Legal basis of the punishment: Article 36-1 of the Securities and Exchange Act, paragraph 1, Article 30 and Article 31 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies effective at the time of conduct
IV. Facts of the violation and reason: The Board of Directors of Tsec Corporation (hereinafter referred to as the “Company”) had resolved to purchase the land from TA CHING MOTORS CO., LTD. on December 19, 2016 but the Company failed to publish and file relevant information on the website designated by the Commission in the specified format; further, the contract of the above transaction was entered into on January 3, 2017 and an addendum was signed on January 10, 2017. However, the Company failed to announce and file relevant information on the website designated by the Commission within 2 days from the date the contract was modified. It is therefore determined as a violation against paragraph 1, Article 30 and Article 31 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies effective at the time of conduct.
V. Resulting fine : An administrative fine of NT$ 240 thousand is imposed on the representative of the Company’s conduct pursuant to sub-paragraph 7, paragraph 1, Article 178 and paragraph 1, Article 179 of the Securities and Exchange Act.
 
Contact: Section Chief Mr. Wencheng Lin, Corporate Finance Division,Security and Futures Bureau.
Contact number: (886) 2- 2774-7311
 
Visitor: 289   Update: 2017-11-01