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Administrative Sanction

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Former Associated Person Lin of KGI Securities Co., Ltd. Sanctioned for Violation of Laws and Regulations Governing Futures Business

1.Date the punishment was imposed: 27 November 2019
2.Recipient of the punishment: Former associated Person Lin (hereinafter " Lin ") of KGI Securities Co., Ltd. (hereinafter " KGI Securities ")
3.Legal basis of the punishment: Article 29, paragraph 2 of the Regulations Governing the Operation of Futures Introducing Broker Business by Securities Firms. Article 16, paragraph 2 of the Regulations Governing Responsible Persons and Associated Persons of Futures Commission Merchants. Article 55, Subsection 23 of the Regulations Governing Futures Commission Merchants. 
4.Facts of the violation and reasons: KGI Securities engages in futures introducing broker business. Its former employee, Lin, while working as an accounting opening staff for the introducing broker business of Taipei Branch, used the personal mobile phone in the business premises to engage in transactions through an external network, instead of using the internal network to engage in futures trading. Such fact was found to be in violation of futures regulations.
5.The disciplinary action: In accordance with Article 101, paragraph 1 of the Futures Trading Act, KGI Securities was ordered to suspend Lin from performing futures trading business for 1 month.
Visitor: 1479   Update: 2019-12-04