Concord Futures Co., Ltd. Sanctioned for Violation of Laws and Regulations Governing Futures Business
2021-10-07
1. Date the fine was imposed: October 7, 2021
2. Recipient of the fine: Concord Futures Co., Ltd. (hereinafter "Concord Futures")
3. Legal basis of the fine: Paragraph 2, Article 2, and Paragraph 1, Article 33 of the Regulations Governing Futures Commission Merchants.
4. Facts of the violation and reasons: The associated person of Concord Futures failed to accept customer orders by phone in accordance with the regulations, and failed to report to the firm the website posted advertising materials. The firm failed to fulfill its responsibilities of supervision and management and did not properly implement the internal control system; these are verified to have violated the provisions of futures management laws and regulations.
5. Resulting fine: An administrative fine of NT$120,000 was imposed on Concord Futures in accordance with subparagraph 2, paragraph 1, Article 119 of the Futures Trading Act.
2. Recipient of the fine: Concord Futures Co., Ltd. (hereinafter "Concord Futures")
3. Legal basis of the fine: Paragraph 2, Article 2, and Paragraph 1, Article 33 of the Regulations Governing Futures Commission Merchants.
4. Facts of the violation and reasons: The associated person of Concord Futures failed to accept customer orders by phone in accordance with the regulations, and failed to report to the firm the website posted advertising materials. The firm failed to fulfill its responsibilities of supervision and management and did not properly implement the internal control system; these are verified to have violated the provisions of futures management laws and regulations.
5. Resulting fine: An administrative fine of NT$120,000 was imposed on Concord Futures in accordance with subparagraph 2, paragraph 1, Article 119 of the Futures Trading Act.
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Update：
2021-10-15