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Administrative Sanction

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Administrative Fine Imposed on the Responsible Person of Holux Technology, Inc. (OTC Company, Stock Code 3431)

1.Date the Punishment was Imposed: May 22, 2019
2.Recipient of the Punishment: Four responsible people for the conduct of Holux Technology, Inc., Tseng, ○○ and others. 
3.Legal Basis of the Punishment: Subparagraph 2, Paragraph 3, Article 36 of the Securities and Exchange Act, and Subparagraph 6, Article 7 of the Securities and Exchange Act Enforcement Rules.
4.Facts of the Violation and Reasons: The President of Holux Technology, Inc. was reported as a rejected account due to insufficient deposits on December 7, 2018, and automatically removed from the office pursuant to Paragraph 5, Article 30 of the Company Act. However, the Company did not disclose the information of the change of its President until December 27, 2018. This is deemed as a violation against Subparagraph 2, Paragraph 3, Article 36 of the Securities and Exchange Act, and Subparagraph 6, Article 7 of the Securities and Exchange Act Enforcement Rules, which require that any change of the President shall be disclosed within two days upon the occurrence of such event. 
5.Disciplinary Action: A fine of NT$240,000 was imposed on the four responsible people for the conduct pursuant to Subparagraph 4, Paragraph 1, Article 178, and Article 179 of the Securities and Exchange Act effective at the time of such conduct.
 
Contact Person: Chen, Hsiang Yin, Section Chief, Corporate Finance Division, Securities and Futures Bureau
Contact Tel: (02)2774-7120
Please send your inquiry to:https://fscmail.fsc.gov.tw
Visitor: 359   Update: 2019-07-10