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Administrative Sanction

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Administrative Fine Imposed on the Responsible Person of GISH INTERNATIONAL CO., LTD. (Listed Company, Securities Code: 8067)

 
1. Date the fine was imposed: December 5, 2017
2. Recipient of the fine: Chen XX, responsible person of GISH INTERNATIONAL CO., LTD.
3. Legal basis of the fine: Article 36-1 of the Securities and Exchange Act and Subparagraph 4 of Article 19, Paragraph 1 and 3 of Article 20, and Article 21 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies 
4. Facts of the violation and reasons: GISH INTERNATIONAL CO., LTD (TAIWAN) engaged in derivatives trading during the period from December 8, 2016 to April 5, 2017, and did not regularly evaluate held derivatives trading positions; its board of directors did not designate senior management personnel to continuously pay attention to monitoring and controlling derivatives trading risk; nor did they regularly evaluate derivatives trading performance. In addition, the Company did not report to the board of directors, and subsequently, the board of directors approval dates and the matters required to be carefully evaluated were not recorded in detail in the logbook. Moreover, internal audit personnel did not faithfully conduct an audit nor prepare an audit report and so forth. Those facts were found to be in violation of Subparagraph 4 of Article 19, Paragraph 1 and 3 of Article 20, and Article 21 of the Regulations Governing the Acquisition and Disposal of Assets by Public Companies.
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 GISH INTERNATIONAL CO., LTD.
Visitor: 527   Update: 2017-12-08