1.    Date of sanction: January 5, 2026
2.    Object of sanction: Hua Nan Securities Co., Ltd. (hereinafter referred to as “Hua Nan Securities”) and its associated person, XX Chang.
3.    Legal basis for the sanction: Article 56 and Subparagraph 4, Paragraph 1, Article 178-1 of the Securities and Exchange Act; Paragraph 2, Article 2 and Subparagraph 4, Article 37 of the Regulations Governing Securities Firms; Paragraph 1, and Subparagraph 10, Paragraph 2, Article 18 of the Regulations Governing Responsible Persons and Associated Persons of Securities Firms.
4.    Facts of violation: The Taiwan Stock Exchange Corporation conducted inspections of Hua Nan Securities on February 17 and 18, June 13, and July 3, 2025, and found that a former associated person of Hua Nan Securities, XX Chang, had violated the principle of good faith. Between 2019 and 2024, the individual obtained funds from clients under the pretense of investment or stock subscription, causing clients to mistakenly believe that the related transactions existed, when in fact, no stock subscriptions or trades were executed on their behalf.
5.    Sanction imposed: Pursuant to Subparagraph 4, Paragraph 1, Article 178-1 of the Securities and Exchange Act, a fine of NT$900,000 is imposed on Hua Nan Securities. In addition, pursuant to Article 56 of the Securities and Exchange Act, Hua Nan Securities is ordered to dismiss the associated person, XX Chang, from their position.

Contact unit: Section Chief Weng, Securities Firms Division, Securities and Futures Bureau
Tel: (02)2774-7112
If you have any questions, please write to mail