Sanction on President Securities Corporation for Violation of Securities Management Related Laws and Regulations
2022-03-08
I. Date of sanction: March 8, 2022
II. Object of sanction: President Securities Corporation (President Securities).
III. Legal basis for the sanction: Article 65 and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act, and paragraph 2, Article 2 and Article 30 of the Regulations Governing Securities Firms.
IV. Fact of violation: President Securities, as the sponsoring counseling and recommending securities firm, has violated the continuous quotation obligation, failed to perform the quotation obligation based on professional judgment, and failed to effectively adjust the market supply and demand according to market conditions. These are verified to have violated the provisions of paragraph 2, Article 2 and Article 30 of the Regulations Governing Securities Firms.
V. Sanction imposed: A corrective action is requested of President Securities in accordance with Article 65 of the Securities and Exchange Act, and a fine of NT$720,000 is imposed on the firm in accordance with subparagraph 4, paragraph 1, Article 178-1 of the same Act.
Contact unit: Section Chief Weng, Securities Firms Division, Securities and Futures Bureau
Tel: 02-2774-7112
For questions, please write to：FSCMAIL
II. Object of sanction: President Securities Corporation (President Securities).
III. Legal basis for the sanction: Article 65 and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act, and paragraph 2, Article 2 and Article 30 of the Regulations Governing Securities Firms.
IV. Fact of violation: President Securities, as the sponsoring counseling and recommending securities firm, has violated the continuous quotation obligation, failed to perform the quotation obligation based on professional judgment, and failed to effectively adjust the market supply and demand according to market conditions. These are verified to have violated the provisions of paragraph 2, Article 2 and Article 30 of the Regulations Governing Securities Firms.
V. Sanction imposed: A corrective action is requested of President Securities in accordance with Article 65 of the Securities and Exchange Act, and a fine of NT$720,000 is imposed on the firm in accordance with subparagraph 4, paragraph 1, Article 178-1 of the same Act.
Contact unit: Section Chief Weng, Securities Firms Division, Securities and Futures Bureau
Tel: 02-2774-7112
For questions, please write to：FSCMAIL
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9549
Update：
2022-03-15