1. Date of sanction: March 27, 2024
2. Objects of sanction: IBF Securities Co., Ltd. (hereinafter referred to as IBF Securities) and its associate person XX Chiang.
3. Legal basis for the sanctions: Article 56 and subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act; paragraph 2, Article 2 and paragraph 11 and 18, Article 37 of the Regulations Governing Securities Firms; and subparagraphs 3, 9 and 11, paragraph 2, Article 18 of the Regulations Governing Responsible Persons and Associated Persons of Securities Firms.
4. Facts of violation: On November 15 and 16, 2023, the Taiwan Stock Exchange Corporation conducted an audit of IBF Securities Taoyuan Branch, and found that the person sanctioned safekept bank passbooks and online banking passwords on behalf of customers, accepted customer discretionary investment commission on the type, quantity, price, and buying or selling of securities, made advance payments to customers for securities settlement, and engaged in fund borrowing and lending with customers.
5. Sanctions imposed: A fine of NT$300,000 is imposed on IBF Securities in accordance with subparagraph 4, paragraph 1, Article 178-1 of the Securities and Exchange Act, and IBF Securities is ordered to suspend the business execution of XX Chiang, its associate person, for one month in accordance with Article 56 of the same Act.