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Administrative Sanction

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Sanction on Concord Futures Co., Ltd. for Violation of Futures Management Related Laws and Regulations


 
1.    Date of sanction: January 6, 2025
2.    Object of sanction:  Concord Futures Co., Ltd. (hereinafter referred to as Concord Futures).
3.    Legal basis for sanctions: Paragraph 2, Article 2 of the Regulations Governing Futures Commission Merchants.
4.    Facts of violations: Prior to the execution of the trader’s futures account offsetting operation on August 5, 2024, Concord Futures did not first handle the high-risk account notification operation; in addition, the balance of the trader’s account was negative after the offsetting operation on behalf of the trader, but the firm failed to report it to the competent authority on the same day as required, and did not comply with the firm’s internal control regulations. Concord Futures is therefore verified to have violated futures management related laws and regulations.
5.    Sanctions imposed: A fine of NT$120,000 is imposed on Concord Futures in accordance with subparagraph 2, paragraph 1, Article 119 of the Futures Trading Act.
Visitor: 194   Update: 2025-01-10
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