Concord Futures Corp. Sanctioned for Violation of Laws and Regulations Governing Futures Business
2018-12-11
1.Date the fine was imposed: 11 December, 2018.
2.Recipient of the fine: Concord Futures Corp. (hereinafter "Concord Futures").
3.Legal basis of the fine: Article 2, paragraph 2 of the Regulations Governing Futures Commission Merchants.
4.Facts of the violation and reasons: Concord Futures did not perform the write-off operation on behalf of customer when the trader risk index was negative on 6 February, 2018. That was not in compliance with the company’s internal control system. Such fact was found to be in violation of futures regulations.
5. Resulting fine: An administrative fine of NT$480,000 was imposed on Concord Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
3.Legal basis of the fine: Article 2, paragraph 2 of the Regulations Governing Futures Commission Merchants.
4.Facts of the violation and reasons: Concord Futures did not perform the write-off operation on behalf of customer when the trader risk index was negative on 6 February, 2018. That was not in compliance with the company’s internal control system. Such fact was found to be in violation of futures regulations.
5. Resulting fine: An administrative fine of NT$480,000 was imposed on Concord Futures pursuant to Article 119, paragraph 1, subparagraph 2 of the Futures Trading Act.
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Update：
2018-12-12