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Administrative Sanction

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Concord Futures Corp. Sanctioned for Violation of Laws and Regulations Governing Futures Business

1. Date the fine was imposed: 21 November, 2017. 
2. Recipient of the fine: Concord Futures Corp. (hereinafter "Concord Futures").
3. Legal basis of the fine: Article 2, paragraph 2, and paragraph 4 of the Regulations Governing Futures Commission Merchants.
4. Facts of the violation and reasons: Concord Futures engages in futures brokerage business with permission from the Financial Supervisory Commission. The internal operating procedure for the day trading of foreign futures was neither not included in its internal control or obtained the approval of the board of directors. Such facts were found to be in violation of futures regulations
5. Resulting fine: An administrative fine of NT$120,000 was imposed on Concord Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
Visitor: 854   Update: 2017-11-23